Introduction

Every rupee collected as tax is a building block of India’s future—paving highways, establishing schools, and funding healthcare. While millions of Indians file returns and pay taxes, a select few—both individuals and corporations—contribute a lion’s share of the revenue. Understanding who these top taxpayers are, how the tax system applies to them, and the broader implications of their contributions is not just a matter of curiosity but a study in economic governance and civic responsibility. This comprehensive 3000-word guide dives deep into India’s highest taxpayers in 2025, unpacks the mechanics of tax calculation, contrasts old and new tax regimes under the Finance Act 2025, and highlights the societal impact of these substantial contributions.

Top Individual Taxpayers (FY 2024–25)

India’s personal tax landscape often sees Bollywood stars and top athletes leading the charts. Their diverse income streams—from film fees to brand endorsements—translate into massive tax liabilities. The following are the most prominent individual taxpayers for the financial year 2024–25:

Amitabh Bachchan

Tax Paid: Approx. ₹120 crore
Sources of Income: Blockbuster film projects, television appearances, brand endorsements (luxury goods, FMCG), production ventures, and savvy investments in equities and real estate.
Insight: Despite his advanced age, Bachchan’s enduring popularity ensures a steady pipeline of high-paying assignments. His disciplined compliance—meticulous quarterly advance tax payments—sets a benchmark for fellow high earners.

Shah Rukh Khan

Tax Paid: Around ₹92 crore
Sources of Income: Global box office hits, brand ambassadorships for tech and consumer electronics, co-ownership of the IPL franchise Kolkata Knight Riders, and production house revenues.
Insight: Known as the ‘Baadshah of Bollywood,’ Khan’s international footprint in markets like the Middle East and Southeast Asia bolsters his overall earnings.

Virat Kohli

Tax Paid: Over ₹66 crore (advance tax)
Sources of Income: National cricket match fees, IPL salary, endorsements with global brands (Nike, MRF, Wrogn), and co-ownership in fitness and apparel businesses under the One8 brand.
Insight: As cricket remains India’s premier sport, top players like Kohli garner massive corporate sponsorships, elevating their tax contributions.

Others in the Top Bracket

• Akshay Kumar: ₹30–35 crore from films, endorsements, and production houses.
• Salman Khan: ₹70–75 crore via commercial films and brand deals.
• Vijay (Tamil Cinema): ₹80 crore driven by regional blockbuster hits and endorsements.
• Kapil Sharma: ₹26 crore combining TV shows, stand-up tours, and brand sponsorships.

Year-on-year, the threshold for entering the top 10 personal taxpayers hovers upward, reflecting the industry’s growth and digital expansion (OTT platforms, YouTube partnerships) providing additional earnings.

Leading Corporate Taxpayers (FY 2024–25)

Corporate taxpayers contribute substantial sums. According to Hurun Research and official disclosures, the top corporate taxpayers for FY 2024–25 include:

This dominance of energy giants, banks, and IT majors highlights India’s economic pillars. Notably, companies across manufacturing, pharmaceuticals, and consumer goods sectors also feature prominently just below this top five.

Sectoral Trends

Analysis reveals that energy and commodities enjoy cyclical booms, driving profits in peak years. IT services, with high export margins, maintain steady profitability. Financial institutions, buoyed by rising retail and corporate credit, also secure substantial tax liabilities.

How Income Tax is Calculated

Understanding the computation of tax liability is crucial. It involves determining gross income, applying deductions/exemptions, and calculating tax under applicable slabs and surcharges.

Gross Income Composition

• Salary Income: Basic pay, HRA, allowances.
• Business & Profession: Profits from self-employment or business operations.
• Capital Gains: Profit from sale of assets (equity, mutual funds, real estate).
• House Property: Rental income.
• Other Sources: Interest, dividends, lottery winnings.

Deductions and Exemptions

Under the Old Regime, taxpayers leverage various deductions:

• Section 80C (₹1.5 lakh): PPF, ELSS, life insurance.
• Section 80D: Health insurance premiums.
• Home loan interest under Section 24.
• HRA exemptions based on rent paid and salary.

The New Regime offers minimal deductions, prioritizing simplicity over exemptions.

Applying Tax Slabs and Rates

Old vs New Tax Regimes – Which to Choose?

For AY 2025–26, the New Regime is default, yet individuals can opt for the Old Regime if they benefit from exemptions and deductions. Key considerations include:

• Deductions: If your 80C investments, HRA, home loan interest, and medical insurance significantly reduce taxable income, the Old Regime may save more.
• Simplicity: The New Regime requires minimal paperwork—ideal for salaried professionals with fewer investments.
• Long-Term Planning: Evaluate both regimes annually; changes in income or investments can shift the advantage.

Why They Pay So Much

• High Earnings: Multiple revenue streams create large taxable bases.
• Transparent Declarations: Public figures and large corporations maintain rigorous compliance to avoid reputational risks.
• Advance Tax Payments: Top earners pay in quarterly installments, aligning with cash flows from big projects or deals.
• Progressive Rates: Marginal rates and surcharge scale with income, amplifying liabilities at higher brackets.

Impact on Nation Building

Taxes from top contributors enable:

• Infrastructure: ₹10+ lakh crore capital outlay on roads, metros, airports annually.
• Social Welfare: PM Awas Yojana, Ujjwala, and Ayushman Bharat coverage for crores of citizens.
• Healthcare: Expansion of district hospitals, vaccines, and public health campaigns.
• Education: Scholarships, school infrastructure, and skill development programs.

The multiplier effect of government spending often ranges from 1.5x to 3x, meaning ₹1 of tax can generate ₹1.50–₹3.00 in economic output.

FAQs

Who is the highest individual taxpayer in India for FY 2024–25?

Amitabh Bachchan, with an estimated tax payment of over ₹120 crore.

Which corporation leads in tax contributions?

Reliance Industries Ltd., topping the list with over ₹25,700 crore.

Can I switch tax regimes annually?

Yes. Taxpayers can choose between Old and New Regimes each year while filing returns.

What is advance tax?

Advance tax is the installment-based payment of tax liability for individuals and businesses whose tax liability exceeds ₹10,000 in a financial year.

How does tax revenue help citizens?

Through funding public goods—roads, schools, hospitals, social welfare schemes, and security, enhancing quality of life.

References

1. Finance Act 2025 – Government of India
2. Income Tax Department – incometax.gov.in
3. Hurun Research Institute – Corporate Taxpayer Reports
4. Media Outlets: Economic Times, Times of India (2023–25)
5. Press Information Bureau Releases