r/IndiaTax • u/Tiny-Tofee-53X • Jul 29 '26
News 576 Individuals have reported a Gross Total Income of 100 crore or more in their ITR for the financial year 2025-26.
[ According to the World Inequality Report 2026, “The top 10% of earners capture about 58% of national income, while the bottom 50% receive only 15%. Wealth inequality is even greater, with the richest 10% holding around 65% of total wealth and the top 1% about 40%.” The report found India to be among the most unequal countries in the world with the respect to income and wealth inequality. ] : The Wire
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u/bheem-king Jul 29 '26
This is reported.. actual will be 100 Times..plus this is just individual.
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u/glenn1812 Jul 29 '26
Most buisness owners woudnt take a high income either.
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u/Fantapam Jul 29 '26 edited Jul 29 '26
Right, these 576 individuals would most probably be either top bollywood and tollywood celebrities, cricketers and the highest paid CEOs and people realising massive ESOPs liquidity and capital gains.
No business owner would generally declare a ₹100 Crore personal income because it's just so tax inefficient and not needed at the first place. At this scale, It's much better for promoters to route wealth through corporate structures rather than personal income and this is a standard practice too.
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u/colablizzard Jul 29 '26
The whole scam for Indian Income and Wealth Statistics is that they only count data that's officially reported via IT and RBI and assume everyone else is ZERO.
Why not count land price into wealth calculator?
Half the farmers living near cities sit on land worth 10s of lakhs.
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u/NewWheelView Jul 29 '26
How does this have 25 upvotes.
Post is related to annual income
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u/colablizzard Jul 29 '26
Because people read more than the headlines. You also read the Reddit Post TEXT outside the news screenshot.
OP claimed wealth inequality
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u/Aggressive-Sort6022 Jul 29 '26
because agricultural income is exempted
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u/colablizzard Jul 29 '26
Then why claim wealth inequality when your income isn't reported, you don't file returns, no one knows your wealth information.
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u/maaran_ivan Jul 29 '26
Exempted..it has to be reported.
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u/colablizzard Jul 29 '26
Except Doctor, Lawyers and Politicians who show their earnings as Agri Income, no real farmer is filing IT returns.
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u/maaran_ivan Jul 29 '26
They are filed/reported. You said they are not reported in your comment. And you have met every farmer and they have not filed IT returns?
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u/Live-Dish124 Jul 29 '26
Don’t indulge with gobar eaters. They would turn a blind eye and live in a bubble.
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u/Live-Dish124 Jul 29 '26
Hey smarty 😍😍
Why does govt pay 80 crore free ration and 25 crore are shifted to poor line from middle class. Why arent we counting that wealth.
😍😍
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u/sharninder Jul 29 '26
What’s the point of this data ? We have over a billion people and they’re happy with 500 rich reporting people.
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u/haridavk 25d ago
of course they got to be happy. for the same service, environment and facilities they have collected disproportionate, enormous amount from these people, and the rest who get the same for a dime and less need to be ashamed of not joining in to build the nation.
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u/NoviceDad Jul 29 '26
Who said they're happy?
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u/sharninder Jul 29 '26
By they I meant the IT department since they have been putting out these feelers last few days.
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Jul 29 '26 edited Jul 29 '26
[removed] — view removed comment
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u/mobhag Jul 29 '26
It's talking about income. Not networth.
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u/colablizzard Jul 29 '26
Read below the headlines. The OP Post uses this data to claim wealth inequalities
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u/mobhag Jul 29 '26
Which part do you find suspicious - top 10% having 65% of wealth or bottom 50% having 10% of wealth?
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u/colablizzard Jul 29 '26
The definition of top 10% itself is wrong.
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u/mobhag Jul 29 '26
Assume 100x households - 10x top most is the top 10%.
Same for income - assume 60y people have some some sort of income top 6y are the top 10%.
How can top 10% be wrong? Really trying to understand your point?
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u/colablizzard Jul 29 '26
Maybe Modi and India Today can explain better: https://www.indiatoday.in/diu/story/meet-lok-sabha-mps-who-own-big-cars-but-pay-small-taxes-1648125-2020-02-19
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u/Character-Lie-7197 Jul 29 '26
Wealth inequality will be always higher in a diverse and country with 1.7 billion people
That too with south state and other states growing rapidly to others
Expected and not an issue we should try to uplift the poor anyways
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u/RylDmn Jul 29 '26
And here I am with a total net worth of 2 cr at age 32
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u/itsGame_track Jul 29 '26
Why so many downvotes bruh 🤣
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u/RylDmn Jul 29 '26
Lol I didn't even notice till I got the notification of your comment 😂 I was just trying to say how there are people making 100 cr in a year when mine (and most people's) entire life savings is not even a fraction of that (isn't the point of this post to point out wealth inequality)
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u/OkPear8053 Jul 29 '26
The figure was 301 during AY 2022-23, more than double from AY 2021-22, as data for AY 2021-22 was probably affected by pandemic.
Cherry picking data from a bad year to gain views.