India's Economic Boom: Every 5th Taxpayer Now Earns Over ₹30 Lakh Annually

• ClearTax report reveals a significant surge in high-income earners in India, reflecting growing economic power.
• Proportion of taxpayers earning over ₹30 lakh annually jumped from 18.49% in 2024 to 23.34% in 2025.
• The 40-50 age group leads this trend, with 38% earning over ₹30 lakh, contributing significantly to tax revenue.
• Diversified income sources, including businesses, side-hustles, and stock market investments, are driving this growth.
• Young Indians, especially millennials, are adopting an 'investor mindset,' actively participating in markets and filing complex tax returns.

Why It Matters: India sees a significant rise in high-income taxpayers, driven by diversified earnings and an investor mindset.