Thousands in Madhya Pradesh Earn Over ₹1 Crore Annually

MP News: The number of individuals earning more than ₹1 crore annually in the state is 8,666. According to the Income Tax Department's figures for the assessment year 2023-24, Madhya Pradesh (MP) ranks fourth among 37 states in the list of taxpayers earning over ₹1 crore.

MP News: The number of individuals earning over ₹1 crore annually in Madhya Pradesh (MP) stands at 8,666. According to the Income Tax Department's figures for the assessment year 2023-24, MP ranks fourth among 37 states in the list of taxpayers earning over ₹1 crore. Maharashtra leads with 1,24,800 individuals in this income bracket. Lakshadweep is at the bottom of the list with only one taxpayer in this category. Nationally, 2,16,000 people earn over ₹1 crore annually.

Number of Crorepati Taxpayers Signals Tax Awareness

CA Pankaj Sharma stated that the significant number of crorepati taxpayers filing income tax returns from MP demonstrates the growing tax awareness among the state's residents. They are honestly paying taxes according to their income. The expanding scope of businesses, the service sector, startups, and professionals has increased the number of high-income earners in the state. This has given new momentum to the state's economic situation.

Top 10 States

• Maharashtra- 1,24,800
• Uttar Pradesh- 24,050
• Delhi- 20,500
• Madhya Pradesh- 8,666
• Tamil Nadu- 6,288
• Andhra Pradesh- 5,340
• Gujarat- 3,540
• West Bengal- 3,013
• Karnataka- 2,816

Bottom Five States

• Lakshadweep- 1
• Nicobar- 08
• Mizoram- 13
• Sikkim- 14
• Uttarakhand- 24