Average gross income for individual taxpayers rises 56% in 8 years
The Central Board of Direct Taxes (CBDT) disclosed that in the assessment year 2021-22, the average gross total income of individual taxpayers to ₹7 lakh, as compared to ₹4.5 lakh in the assessment year (AY) 2013-14. According to CBDT's analysis of income-tax returns, the top 1% of individual taxpayers experienced a 42% increase in their average gross total income, while the bottom 25% saw a 58% increase.
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