Indian Billionaires’ 100-crore salary club doubled in 2021-22 assessment year

Recently the news has come on the internet that Assessment Year 2021-2022 (AY22) saw taxpayers reporting annual earnings of 100 crores double to 16, reached to the last year, as per date from the Income Tax department. Since the news has come on the internet and it went viral on social networking sites. Currently, this news has been gaining huge attention from people as they are searching for the news on the internet. Now many people are super curious to know about the whole information about the news. Here we have more information about the news and we will share it with you in this article.

Indian Billionaires

Billionaires Club Expands

Ay21 had eight people announce revenues exceeding 100 crores indicating a 100% jump year-on-year in AY22, or folding of the number of billionaires in the Indian taxpayer base. According to the report, the cooperative salary earnings of the 16 people amounted to slightly more than 2569 crores. On average, each of them earned 160.57 crores yearly. Currently, this news is gaining a huge attention from the people as they want to know the complete information about the news. Scroll down to the next page for more information about the news.

While the growth is significant, it’s worth noting that the total number of such elevated income earners in 2021-22 remained below the levels seen in the 2019 to 2020 review year when 20 people reported excellent salaries. Currently, lots of people are searching the news on the internet as they are super keen to know about the Tax Return Statistics. You are on the right page for more information about the news so read the article till the end.

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Tax Return Statistics

As far as we know, Of the total 67.5 million ITRs filed during this period, involving an incremental gross income of 69.6 lakh crores, 589 estimates announced a total revenue surpassing 500 crores, with a mixed gross total of 13 lakh crores. The income tax department collected these statistics based on income tax return (ITR) data for AY22, developed from e-filed returns processed until 31 March. In matters where many returns are submitted, the values from the new returns have been assessed, with inconsistent dates stopped. For the AY22, 67.6 million e returns, with conflicting data eliminated. For AY22, 67.6 million e-returns were checked against the consistency rules, and 67.5 million returns that yielded with these rules have been used for statistical analysis. Here we have shared all the information which we had. Stay tuned to us for more updates.

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Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.