New Delhi: The number of individuals reporting a Gross Total Income (GTI) of Rs 100 crore or more in their Income Tax Returns (ITRs) has increased more than four-fold over the past five assessment years, the government informed Parliament on Monday.
Answering a question in Parliament, Minister of State for Finance Pankaj Chaudhary said 576 individuals reported a gross total income of Rs 100 crore or more in Assessment Year (AY) 2025-26, compared with 142 individuals in AY 2021-22.
The number stood at 301 in AY 2022-23, 284 in AY 2023-24 and 415 in AY 2024-25 before rising to 576 in AY 2025-26.
The minister clarified that there is no statutory definition of the term "billionaire" under the Income-tax Act, 2025 or the erstwhile Income-tax Act, 1961. He added that the government tracks individuals reporting gross total income of Rs 100 crore or more through income tax returns. (ANI)
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