New Delhi, July 27: The number of taxpayers reporting annual income of more than ₹100 crore has witnessed a 300 per cent increase, indicating stronger tax compliance and greater transparency in income reporting, the government said.
The rise reflects the impact of technology-driven reforms, improved data analysis, and simplified tax filing processes introduced by the Income Tax Department to encourage accurate reporting and enhance compliance.
The government said digital platforms, better monitoring mechanisms, and initiatives to widen the tax base have contributed to increased participation in the formal tax system.
Officials noted that the growth in high-income declarations highlights the strengthening of India’s formal economy and the effectiveness of ongoing efforts to build a more transparent and efficient taxation framework.