The number of taxpayers reporting annual income of Rs 100 crore or more rose 39 per cent to 576 in assessment year 2026 (AY26), up from 415 a year earlier, according to a report by SBI Research.

SBI Research also found that the number of taxpayers reporting income of Rs 1 crore or more increased 14 per cent to 5,35,672 in AY26 from 4,71,419 in AY25.

The sharp rise among the country’s highest-income taxpayers contrasts with the more moderate growth across the broader high-income taxpayer base.

The Rs 100 crore-or-more category has also shown significant fluctuations in recent years. The number stood at 142 in AY22 before more than doubling to 301 in AY23, marking a 112 per cent increase.

The figure then fell 6 per cent to 284 in AY24 before climbing 46 per cent to 415 in AY25. It rose another 39 per cent to 576 in AY26.

Meanwhile, the Rs 1 crore-or-more taxpayer base has expanded steadily since AY22, when the figure stood at 1,93,800.

The number climbed 39 per cent to 2,69,184 in AY23, 30 per cent to 3,49,974 in AY24 and 35 per cent to 4,71,419 in AY25. It then increased 14 per cent to 5,35,672 in AY26.

The Rs 1 crore-or-more taxpayer population has more than doubled since AY22, while the Rs 100 crore-or-more category has quadrupled during the same period.

SBI Research has also projected 8 per cent GDP growth for Q1 FY27. The report expects credit growth to reach 19.3 per cent and foreign exchange reserves to rebuild to $707 billion through the RBI’s FCNR(B) deposit scheme.

The report separately highlighted margin pressure across sectors such as healthcare, cement and entertainment during the June quarter.

These trends show that resilience among the highest-income taxpayers has not extended uniformly across corporate India.