India's direct tax collections leap 160% over 9 years

New Delhi, Jan 23 The country’s net direct tax collections have increased by 160.52 per cent from Rs 6,38,596 crore in 2013-14 to Rs 16,63,686 crore in 2022-23, according to consolidated time-series data released by the Central Board of Direct Taxes (CBDT) on Tuesday.

The gross direct tax collections of Rs 19,72,248 crore in 2022-23 have registered an increase of over 173.31 per cent compared to the corresponding figure of. 7,21,604 crore in 2013-14. The direct taxes include personal income tax and corporate tax.

The direct tax to GDP ratio has gone up from 5.62 per cent in 2013-14 to 6.11 per cent in 2022-23.

Meanwhile, the cost of tax collection has decreased from 0.57 per cent of total collection in 2013-14 to 0.51 per cent of total collection in 2022-23.

The total number of ITRs filed in FY 2022-23 stands at 7.78 crore showing an increase of 104.91 per cent as compared to total number of ITRs of 3.80 crore filed in FY 2013-14.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor