Net direct tax collection rises by 160% to ₹16,63,686 crore in 10 years

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₹6,38,596 crore in 2013-14 to ₹16,63,686 crore in 2022-23. Official data further revealed that the income tax department is allocating increased resources to the collection of direct taxes, despite a substantial rise in the number of taxpayers. This trend suggests a growing reliance on advanced technology and enhanced compliance measures.

Also read: Indian economy set to hit $5 trillion by 2024-25; $10 trillion by 2030, says Hardeep Puri “A ‘Taxpayer’ is a person who either has filed a return of income for the relevant Assessment Year (AY) or in whose case tax has been deducted at source in the relevant Financial Year but the taxpayer has not filed the return of income," the CBDT said. The cost of collection has seen a decline from 0.57% of the total collection in the fiscal year 2013-14 to 0.51% in the fiscal year 2022-23. In 2000-01, the cost was notably higher at 1.36% of the total collections but has consistently decreased over the years.

In the fiscal year 2022-23, gross direct tax collections amounted to ₹19,72,248 crore, marking a remarkable surge of over 173.31 percent compared to the corresponding figure of ₹7,21,604 crore recorded in 2013-14. Direct taxes encompass both personal income tax and corporate tax. The direct tax to GDP ratio witnessed an ascent from 5.62 percent in 2013-14 to 6.11 percent in 2022-23.