Share of salaried taxpayers earning over Rs 30 lakh a year surges in 2025: Report

India’s highest-earning salaried professionals are expanding rapidly, with taxpayers earning above ₹30 lakh annually growing from 18.49% in 2024 to 23.34% in 2025 according to recent findings.

This financial advancement within middle and upper-middle income groups emerges from ClearTax’s analysis of millions of tax returns in their annual “How India Filed in 2025” report.

The data reveals distinct peaks in earning potential by age demographic. Individuals aged 40-50 represent the most significant contributor group, with 38% earning more than ₹30 lakh yearly.

Taxpayers are increasingly diversifying their income beyond traditional salaries, evidenced by substantial growth in ITR-3 and ITR-2 filings indicating business, trading, and investment revenues.

Equities and trading have become mainstream financial practices, with over 83% of ITR-3 filers declaring capital gains. Younger demographics demonstrate particular engagement, as tax filings among under-25s surged significantly – many reporting investment income during initial filings.

Millennials (25-35 years) lead this transformation, comprising the largest segment filing complex tax returns due to active investments and multiple revenue streams. Meanwhile, cryptocurrency holdings remain primarily supplementary rather than core investment components.

(With inputs from IANS)