Any Crorepati taxpayers in the house?
Non taxpayers can also comment how to avoid paying taxes
With average real inflation hovering at around 8-9%, the maths is simple.
65 lakh * (1.09)^5= 1 crore purely if i factor in inflation
The doubling number is likely this group+ the COVID peak hiring spree
DaringTrain
Stealth
7 months ago
Where is this real inflation of 9%. 9% inflation means things doubling in 8 years. That looks too high. I think it's closer to 6%, so doubling every 12 years
Inflation means costs go up but not necessarily wages, salaries or income. In fact, we've had a wage stagnation issue a couple of times over the last 5 years.
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Gems_Bond
Stealth
7 months ago
Wow, in just 3-4 years number of people with >1 Cr white income has doubled.
India is unstoppable. π₯³π
It's also now harder to do tax evasion. So, this likely also includes folks who are now reporting their income.
Indusplateau
Stealth
7 months ago
Report links please
DaringTrain
Stealth
7 months ago
This is not a report. It's Rajya Sabha filings
Baingan
Student
7 months ago
taxation lags layoffs and salary corrections; hope this number increases going forward.
mindv
Stealth
7 months ago
Count all the doctors, CAs and figure will be above this number.
DaringTrain
Stealth
7 months ago
How many doctors make 1 Cr?
incognito
Stealth
7 months ago
Investments return over 1cr per year for me.
Yes I do diversity, and I could keep it all in the market and not book profit till later. But it's a matter of paying tax now or tax later, same same.
DaringTrain
Stealth
7 months ago
What's the principal?
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