India, a country with a population of over 150 crore people, is witnessing a stark and growing divide in income distribution. While the majority of the population struggles to make ends meet, a tiny fraction of taxpayers are raking in astronomical salaries. Recent data from Income Tax Returns (ITR) filings for FY 2023-24 has brought this disparity into sharp focus. According to the data, 19 taxpayers in India earned a salary exceeding ₹100 crore, and more than 1.17 lakh people earned over ₹21 crore annually. These figures are not just numbers but a reflection of the widening income gap in the country.
