As of the financial year 2024–25, legendary actor Amitabh Bachchan has emerged as one of the highest individual taxpayers in India, reportedly paying ₹120 crore in taxes on earnings of roughly ₹350 crore. He surpassed previous top individual taxpayers, including Shah Rukh Khan, who paid ₹92 crore in FY24.
Who was the Highest Individual Taxpayer in India in 2023? In FY23, Mukesh Ambani retained his position as the highest individual taxpayer, contributing Rs. 2,400 crore. Other notable contributors included Ratan Tata and Azim Premji, who paid Rs.
Maximum marginal rate is the highest rate of tax at any income level. This means for those with incomes between Rs 2 crore and Rs 5 crore, 39% will be the highest applicable tax rate, and for those with incomes above Rs 5 crore, it will be 42.74% — the highest tax rate since 1992.
In 1971-72, the highest rate surged to 93.50%, and between 1972-75, it peaked at 97.75%, one of the highest in India's history. These extremely high tax rates were a part of socialist economic policies that sought to redistribute wealth but were often criticised for discouraging investment and entrepreneurship.
The Highest Individual Taxpayer – Mr Amitabh Bachchan
1 spot on this list by paying a huge amount of Rs. 120 crore as tax. The superstar earned an approximate amount of Rs350 crore in the financial year 2024-25 from various sources.
The #1 richest actor in India, and arguably the world, is Shah Rukh Khan (SRK), who entered the billionaire club in 2025 with an estimated net worth of $1.4 billion (₹12,490 crore) according to Hurun India Rich List 2025, leading all other Indian celebrities with significant wealth from his acting, production house (Red Chillies Entertainment), and cricket team ownership.
Shah Rukh Khan, Thalapathy Vijay, Salman Khan, Virat Kohli and many others also pay huge amounts every year. These numbers come from public reports and estimates, but they clearly show how big the earnings of Indian superstars really are.
While this might seem like a high rate and justify the perceived income tax* burden, you will be surprised to know that the highest tax rate in India is not the highest in the world. Countries with higher income tax* rates compared to India: Canada - 54% China - 45%
While no single individual is definitively named the all-time highest taxpayer due to data limitations, Berkshire Hathaway (led by Warren Buffett) holds the record for the largest single corporate tax payment, around $26.8 billion in 2024, while Elon Musk paid a massive $11-12 billion in 2021, and top earners collectively contribute the most revenue, with the top 1% paying around 40% of all individual income taxes.
In her 2025 Budget speech, Finance Minister Nirmala Sitharaman shared big news. Under the new regime, if you earn up to Rs 12 lakh, you will not have to pay any income tax. Salaried taxpayers get an extra benefit too. The standard deduction, which was Rs 50,000 before, has now gone up to Rs 75,000 for the new regime.
According to government reports, while over 7 crore people file tax returns, only a fraction of them actually pay taxes because many fall below the taxable income threshold or use deductions to reduce liability.
1. Who is the highest taxpayer in India in FY 2023–24? Reliance Industries is the highest tax-paying company, and Akshay Kumar tops among individual celebrities.
While middle-income earners are paying more in taxes, corporate profits and personal wealth of the rich continue to benefit from relatively light taxation through lower rates, exemptions and incentives. Over the last decade, India's tax regime has tilted in favour of corporates and indirect taxes.
The country that has the highest taxes is the Ivory Coast (60%), according to statistics platform Data Panda's 2025 survey. Other countries with high taxes are Finland (56%), Japan (55%), Austria (55%), Denmark (55%), Sweden (52%), Aruba (52%), Belgium (50%), Israel (50%), and Slovenia (50%).
Adani — India's 2nd richest man figures no where among top 10 Tax Paying Companies or Individuals.
Tax Rates and Deductions Comparison
In 2025, India's tax slabs range from 0% on income up to ₹4 lakh to 30% above ₹15 lakh under the new regime. The US has progressive tax brackets starting at 10% going up to 37%.
UAE. The UAE is effectively a tax free country for expats and is now one of the most popular tax haven countries worldwide. It offers a unique residency by investment opportunity with the following tax benefits: No personal income tax.
In India, the tax system is designed not only to generate revenue but also to foster economic stability, promote equity, and drive national progress. In last 10-15 years, Indian taxation system has undergone tremendous reforms.
Examples of income that are not taxable in India include agricultural income, gifts and inheritances, interest on EPF and PPF, scholarships and awards, life insurance proceeds, leave encashment, gratuity, Long-Term Capital Gains (LTCG), and interest on tax-free bonds.
A tax bracket is a range of taxable income that is subject to a specific tax percentage. The brackets used to calculate your income tax depend on your filing status. In 2025 there are seven tax brackets with each one having a different tax rate ranging from 10% to 37%.
The number 269 referred to Virat's cap number as he was the 269th player to represent India in Tests.
Top 5 Tax Payers: 1️⃣ Amitabh Bachchan: ₹120 Cr. 2️⃣ Shah Rukh Khan: ₹92 Cr. 3️⃣ Vijay Thalapathy: ₹80 Cr.