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The number of individuals reporting a gross total income of Rs 100 crore or more crossed 500 for the first time in FY25.
The Finance Ministry told Parliament that 576 individuals reported such income in Assessment Year 2025-26.
This corresponds to Financial Year 2024-25.
It is a sharp rise from 142 such individuals about four years earlier.
The data comes from income-tax return filings.
In India, the Financial Year (FY) is the year in which income is earned — running 1 April to 31 March. The Assessment Year (AY) is the following year, in which that income is assessed and taxed. So income earned in FY 2024-25 is assessed in AY 2025-26. That is why the '576 individuals' figure is reported for AY 2025-26 but describes income earned in FY 2024-25. 'Gross total income' is total income before deductions.
Simple Analogy: You earn during the financial year, then file and get assessed in the assessment year that follows — like doing the exam one year and getting the result the next.
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The year income is earned, 1 April to 31 March.
The year after the FY, in which that income is assessed and taxed.
Total income from all sources before deductions.