New Delhi, Aug 17 (IANS) The number of taxpayers reporting annual income of Rs 100 crore or more rose 39 per cent to 576 in assessment year 2026, up from 415 a year earlier, according to a report.
As per an analysis by SBI Research, the number of taxpayers reporting income of Rs 1 crore or more increased by 14 per cent to 5,35,672 in AY26 from 4,71,419 in AY25.
The sharp increase at the very top of the income pyramid contrasts with the more moderate growth in the broader high-income taxpayer base.
In addition, the Rs 100 crore-plus category has recorded a more volatile growth trajectory in recent years. The number of such taxpayers stood at 142 in AY22 before more than doubling to 301 in AY23, suggesting an increase of 112 per cent.
It subsequently declined 6 per cent to 284 in AY24 and then surged 46 per cent to 415 in AY25 and another 39 per cent in AY26.
In comparison, the Rs 1 crore-plus taxpayer base has expanded consistently since AY22, when it stood at 1,93,800.
It rose 39 per cent to 2,69,184 in AY23, 30 per cent to 3,49,974 in AY24 and 35 per cent to 4,71,419 in AY25, before jumping 14 per cent to 5,35,672 in AY26.
The Rs 1 crore-plus taxpayer population has more than doubled since AY22, while the Rs 100 crore-plus category has quadrupled over the same period.
Moreover, SBI Research has projected 8 per cent GDP growth for Q1 FY27, credit growth of 19.3 per cent and a rebuilding of foreign exchange reserves to $707 billion through the RBI’s FCNR(B) deposit scheme.
Additionally, the report separately flagged margin pressure in sectors including healthcare, cement and entertainment during the June quarter which is a reminder that the resilience at the top of the income distribution has not been uniform across corporate India.
–IANS
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