![\"Rs](\"https:\/\/static.toiimg.com\/thumb\/msid-132672882,imgsize-83912,width-400,height-225,resizemode-4\/rise-in-rs-100-crore-club.jpg\" "\\"Representative")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nNEW DELHI: Government on Monday said that there were 576 individuals who had disclosed a gross income of over Rs 100 crore during financial year 2024-25 (assessment year 2025-26), with 161 added during the year.The additions during the year also mark the highest number in at least four years. While it is a small fraction of the around 8.1 crore who filed returns in 2024-25, govt is drawing comfort from the rise in number of taxpayers who are disclosing higher income. Given the rising level of exemptions over the years, more than 60% of those who filed returns regularly have not paid any tax.Most of the taxpayers in the “super rich club” of over Rs 100 crore will be non-salaried, given by past trends. For instance, in FY2022-23, of the 282 in the Rs 100-500 crore bracket, only 16 were salaried, indicating that some of the CEOs of top companies were part of the segment.<\/p>\n The additions during the year also mark the highest number in at least four years<\/p>\n<\/div>\n<\/div>\n Unlike earlier years, tax authorities have not released the details of tax returns for the last assessment year, with the latest number disclosed in Parliament only providing a glimpse of the statistics. Typically the data also provides the number of taxpayers with over Rs 500 crore of gross income.During FY2022-23, there were 2.3 lakh individuals with over Rs 1 crore annual income.The Centre has been seeking to widen the direct tax base given the high level of evasion seen among the non-salaried and is relying on multiple sets of data for better tracking. As a result, the share of direct taxes in the overall collection has increased from an average 52% in the pre-pandemic period to 59% in FY2024-25, according to official data.In 2000-01, the share was 36%. Direct tax to GDP ratio was estimated at 6.7% in FY2024-25, compared with 3.3% in 2000-01 and 5.6% in 2013-14.Given the data available and the rise in income levels, the number of tax filers has increased from just above 3 crore in FY2013-14. So far this year, 4 crore returns have been filed for FY2025-26 with July 31 being the deadline.<\/div>\n![\"Rs](\"https:\/\/static.toiimg.com\/photo\/msid-132672856\/rs-100cr-income-club.jpg\" "\\"The")
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