The number of individuals in India reporting annual total incomes over ₹1 crore doubled to 1.69 lakh in the two-year period ending March 2022, according to income tax department data. In assessment year 2022-23, 1,69,890 individuals declared total incomes above ₹1 crore, up from 1,14,446 in the previous year. This represents a doubling since assessment year 2020-21, when 81,653 individuals reported incomes above ₹1 crore. Overall, over 2.69 lakh entities, including individuals, companies, firms, trusts, and associations, declared incomes above ₹1 crore in assessment year 2022-23.