Significant increase in higher income filers

Significant increase which is likely to exceed by 20% is being seen in the High Tax Bracket Indian payers . As per the information made available by the  income Tax Department  during the current financial year 2013-14  as compared to 2012-13,  almost 20% more filers till date has filed its return of income 

declaring more than Rs. 20 lacs income bracket.  More and more Indians are practically getting richer if the trend of Income tax filing is to be considered as the criteria of Judging richness of Indians. This % is likely to increase more till 31 march 2014(Closing of the FY). According to the latest statistics the persons e-filing the returns between the income range (20 lakhs -1 crore and above) in FY 2012-13 was 580377 and  this number has touched to  694375 till now i.e 31/01/2014. Comparison between FY 2012-13 and FY 2013-14  e-filing of returns can be viewed as under which clearly reflects the shift of lower income to  higher income group:

FINANCIAL YEAR (FY)	NO. OF FILERS OF INCOME BETWEEN 20 LAKHS TO 50 LAKHS	NO.OF FILERS OF INCOME BETWEEN 50 LAKHS TO 1 CRORE	NO. OF FILERS OF INCOME ABOVE 1 CRORE	TOTAL
FY 2012-13	409391	92877	78109	580377
FY 2013-14(TILL 31/01/2014)	496984	109029	88362	694375
INCOME WISE % INCREASE	21.39%	17.39%	13.12%	19.67%