The Central Board of Direct Taxes (CBDT) released time-series data updated up to fiscal year 2018-19 and income-distribution data for assessment year (AY) 2018-19 (fiscal year 2017-18) on 11 October 2019.
The data includes income-distribution information of corporate, firms, Hindu Undivided Families (HUFs) and individuals. An analysis of data reveals that the number of income taxpayers rose to 84.5 million in the 2018-19 assessment year, registering a rise of 13.8 per cent from the previous year. The total number of individual taxpayers filing more than Rs.10 million income grew by 20 per cent in AY 2018-19 to 97,689 from 81,344 in AY 2017-18. If all taxpayers are included, the number of those with taxable income of more than Rs.10 million per annum rises to about 16.7 million, a 19 per cent rise over AY 2017-18.
Read Full Statistics: Direct tax collections statistics for AY 2018-19