The number of individuals reporting taxable income over Rs 1 crore rose significantly from 44,078 in AY2013-14 to nearly 2.3 lakh in AY2023-24, indicating higher incomes and better compliance. Salaried individuals comprised a substantial portion, but higher income levels saw more businessmen and professionals.
Related Posts
Public holiday: Why RBI has said there will be no trading in government securities, foreign exchange markets, money markets on September 18, 2024
The Reserve Bank of India has stated that trading activities in some financial markets will be halted on September 18, 2024, following a public holiday […]
Three large IPOs record demand worth 2.2L cr
Three major IPOs—Vishal Mega Mart, Sai Life Sciences, and One Mobikwik—concluded on Friday, amassing a staggering Rs 2.2 lakh crore in investor interest. One Mobikwik […]
May ease tariffs if domestic companies not hurt: Finance minister
India’s Finance Minister, Nirmala Sitharaman, hinted at the possibility of reducing certain import tariffs to support domestic industries reliant on imported materials. While acknowledging the […]