The number of taxpayers earning above Rs 1 crore per annum has risen to over 1.40 lakh in the country in the last four years, depicting a growth of about 60 per cent, the Central Board of Direct Taxes (CBDT) said Monday.

Releasing key statistics of income tax and direct taxes for a period of about four years, the policy-making body of the IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent.

"The total number of taxpayers (corporates, firms, Hindu undivided families among others) showing income of above Rs 1 crore has registered a sharp increase.

"While 88,649 taxpayers had disclosed income above Rs 1 crore in assessment year 2014-15, the figure was 1,40,139 for AY 2017-18, which is a growth of about 60 per cent," the CBDT said.

Similarly, it said, the number of individual taxpayers disclosing income above Rs 1 crore had increased during the same period from 48,416 to 81,344, which translated into a growth of 68 per cent.

CBDT Chairman Sushil Chandra said these numbers were a result of putting in a number of legislative, informative and enforcement efforts by the tax department over the last four years.

The data also added that a growth of more than 80 per cent was registered in the number of returns filed in the last four financial years -- from 3.79 crore in 2013-14 to 6.85 crore in 2017-18.

The number of taxpayers earning above Rs 1 crore per annum has risen to over 1.40 lakh in the country in the last four years, depicting a growth of about 60 per cent, the Central Board of Direct Taxes (CBDT) said Monday.

The number of taxpayers earning above Rs 1 crore per annum has risen to over 1.40 lakh in the country in the last four years, depicting a growth of about 60 per cent, the Central Board of Direct Taxes (CBDT) said Monday. Releasing key statistics of income tax and direct taxes for a period of about four years, the policy-making body of the IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent. "The total number of taxpayers (corporates, firms, Hindu undivided families among others) showing income of above Rs 1 crore has registered a sharp increase. "While 88,649 taxpayers had disclosed income above Rs 1 crore in assessment year 2014-15, the figure was 1,40,139 for AY 2017-18, which is a growth of about 60 per cent," the CBDT said. Similarly, it said, the number of individual taxpayers disclosing income above Rs 1 crore had increased during the same period from 48,416 to 81,344, which translated into a growth of 68 per cent. CBDT Chairman Sushil Chandra said these numbers were a result of putting in a number of legislative, informative and enforcement efforts by the tax department over the last four years. The data also added that a growth of more than 80 per cent was registered in the number of returns filed in the last four financial years -- from 3.79 crore in 2013-14 to 6.85 crore in 2017-18.

In last 4 years, number of Indian crorepatis has risen by 60%: Tax Board

At least 215 of the 222 newly-elected MLAs in Karnataka are crorepatis, says a report by Karnataka Election Watch and the Association for Democratic Reforms.&nbsp

The report was filed on the basis of self-sworn affidavits submitted by 221 of the MLAs.&nbsp

The report says the assets owned by the Karnataka MLAs work out to an average of Rs 35 crore. And that half the MLAs own assets worth over Rs 10 crore.&nbsp

The report adds that the Congress tops the list of richie-rich MLAs — 99% of its MLAs are crorepatis.&nbsp

The BJP is a notch lower, but just a notch. 98% of its MLAs are crorepatis.&nbsp

The JD(S) comes third at 95%.&nbsp

The report adds that the assets of re-elected MLAs grew by an average of 90 per cent.

And that the average Karnataka MLA has become 3 times wealthier in the last 10 years.&nbsp

The report adds that the number of MLAs with criminal cases against them has also gone up.

Of the 221 MLAs analysed, 77 or 35% said they had criminal cases pending against them. In 2013, of 218 MLAs analysed 74 or 34% said they had criminal cases pending against them.&nbsp

The report, by Karnataka Election Watch and the Association for Democratic Reforms, was filed on the basis of self-sworn affidavits submitted by 221 of the 222 MLAs

At least 215 of the 222 newly-elected MLAs in Karnataka are crorepatis, says a report by Karnataka Election Watch and the Association for Democratic Reforms. The report was filed on the basis of self-sworn affidavits submitted by 221 of the MLAs. The report says the assets owned by the Karnataka MLAs work out to an average of Rs 35 crore. And that half the MLAs own assets worth over Rs 10 crore. The report adds that the Congress tops the list of richie-rich MLAs — 99% of its MLAs are crorepatis. The BJP is a notch lower, but just a notch. 98% of its MLAs are crorepatis. The JD(S) comes third at 95%. The report adds that the assets of re-elected MLAs grew by an average of 90 per cent. And that the average Karnataka MLA has become 3 times wealthier in the last 10 years. The report adds that the number of MLAs with criminal cases against them has also gone up. Of the 221 MLAs analysed, 77 or 35% said they had criminal cases pending against them. In 2013, of 218 MLAs analysed 74 or 34% said they had criminal cases pending against them.

In Karnataka, 97% newly-elected MLAs are crorepatis: Report

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Over 1 million Americans pour out onto streets, demand tighter gun control More than a million Americans flooded the streets of cities nationwide for emotional protests demanding tighter gun control on Saturday, protests spearheaded by teenagers from a Florida high school where 17 people were shot dead last month. 90% Rajya Sabha MPs are crorepatis: Report Nearly 90 per cent of the Rajya Sabha MPs are crorepatis while the average of total assets Upper House parliamentarians is Rs 55 crore, says a report. US protests: Martin Luther King's granddaughter leads crowd calling for gun reform The granddaughter of the late civil rights leader Dr. Martin Luther King Jr. energised the crowd in Washington on Saturday (March 24) during the March For Our Lives Rally demanding tighter gun laws, led by survivors of last month's Florida school massacre which reignited public anger over mass shootings. Turkey takes full control of Syria's Afrin: Military source Turkey’s military and its Syrian rebel allies have taken full control of northwest Syria’s Afrin region, a Turkish army source said on Saturday, as aid workers distributed food to people in the area. Australia captain Steve Smith fights for job as CA announce ball-tampering probe Australia captain Steve Smith was fighting to save his job and reputation on Sunday after admitting he was the chief plotter in the ball-tampering scandal which has plunged the game into crisis and sparked a Cricket Australia probe.

WION Morning News Brief, March 25, 2018

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