Crorepati taxpayers club gets bigger, rises 5X to 2.2 lakh in AY24

This growth is part of a broader trend, which showed a 74.2% decline in income disparity for earners up to Rs 5 lakh between FY14 and FY23. Also the number of female taxpayers reached 15% of all taxpayers. The report attributes this shift to the government's progressive taxation regime and tax simplification efforts.