Over 100,000 new crorepati taxpayers have emerged in India in three years. What’s driving this rise in high earners?

India has witnessed a five-fold surge in the number of individuals earning over ₹1 crore in taxable income over the past decade, with the pandemic accelerating this trend. Experts attribute this to factors like a booming stock market, high corporate profits, increased salaries, and changes in tax regulations, particularly the taxation of dividends in the hands of individuals.