Just 42,800 people in a country of 1.2 billion admit to earning taxable incomes of Rs 1 crore (Rs 10 million) or more, though India is fast emerging as a top performer in churning out millionaires and multimillionaires.
About 31 million file tax returns.
A study by New World Wealth, a Johannesburg-based wealth consultancy firm, confirms India as home to a large number of dollar millionaires (10th) and dollar billionaires (8th) in the world.
Business Standard decodes the numbers behind the growing super-rich club in India, as claimed by recent studies.
