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1.5 lakh people declare income above Rs 1 crore

Over 1.5 lakh persons have declared annual income above Rs 1 crore so far in assessment year 2018-19, up 69% from AY 2014-15, CBDT chairman Sushil Chandra said on Thursday, However, he pointed out that most of these people with income above Rs 1 crore were salaried class. “The department is detecting under-declaration of income through an analysis of consumption patterns,” Chandra said. Between April and January period this year, 6.31 crore income tax returns have been filed, a jump of 37% over the corresponding period last fiscal. In FY18, I-T department added 1.06 crore new taxpayers.

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