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Taxpayers filing more than Rs 1 crore income grew by 20% in assessment year 2018-19

Taxpayers filing more than Rs 1 crore income grew by 20% in the assessment year 2018-19. The total number was 97,689. This striking increase in the number of crorepati taxpayers is there despite a slow economy and stagnation in salaries. After demonetisation, more and more people have been filing income tax returns declaring their taxable income. In a country of 130 crore people, the number is a minuscule fraction.