New Delhi, July 27: The number of individuals declaring a gross total income of Rs 100 crore or more in their income tax returns has increased fourfold over the past five years, reaching 576 in the assessment year (AY) 2025-26, the government informed Parliament on Monday.

Minister of State for Finance Pankaj Chaudhary, in a written reply to the Lok Sabha, shared the figures while responding to a query on whether the government has noted a sharp rise in the number of billionaires in India, making the country one of the world's leading nations in this regard.

Chaudhary clarified that there is no statutory definition of the term"billionaire" under either the Income-tax Act, 2025or the erstwhile Income-tax Act, 1961.

He said the available data pertains to taxpayers who have reported a gross total income of Rs 100 crore or more in their income tax returns.