Crorepati club gets bigger: India sees 5x jump in Rs 1 crore income tax filers

The number of Indians declaring over Rs 1 crore taxable income has increased fivefold from AY2013-14 to AY2023-24. Incomes have risen, with more tax compliance. Salaried individuals form a large portion of taxpayers in the Rs 1-5 crore bracket. Income levels have grown across various segments, reflecting economic changes over the decade.