Number of Billionaires Grows Four-Fold in Five Years, Income Tax Data Shows

The number of individuals in India declaring a gross annual income of ₹100 crore or more in their Income Tax Returns has increased four-fold over the past five years, according to data presented in Parliament.

For the Assessment Year 2025–26, 576 individuals reported incomes exceeding ₹100 crore, compared to 142 individuals in AY 2021–22.

The government clarified that there is no official legal definition of a "billionaire" under the Income-tax Act. It also stated that it continues to promote inclusive economic growth through progressive taxation and increased spending on healthcare, education, housing, food security, and social welfare.

Income Tax Return Data (₹100 Crore+ Income):

• AY 2021–22: 142 individuals

• AY 2022–23: 301 individuals

• AY 2023–24: 284 individuals

• AY 2024–25: 415 individuals

• AY 2025–26: 576 individuals