New Delhi: Individual income inequality in the country has significantly declined during FY2014-22 with 36.3 per cent of taxpayers moving up from lower income to the higher income tax bucket, resulting in a 21.3 per cent additional income, according to an SBI report. The SBI Research Department has, for the first time in the Indian context, used publicly available income tax data to measure the estimates of inequality. According to the recent data, the ITRs filed by individual taxpayers earning between Rs 5 lakh and Rs 10 lakh climbed by 295 per cent in the assessment years (AY) A 2013–14 and AY 2021–22, showing a positive trend of migration to higher range of gross total income, the report
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