Consolidated time-series data issued by the Central Board of Direct Taxes (CBDT) on Tuesday shows that the nation’s net direct tax receipts climbed by 160.52 percent, from Rs 6,38,596 crore in 2013–14 to Rs 16,63,686 crore in 2022–23.
The overall direct tax revenues of Rs 19,72,248 crore in 2022-23 have seen a rise of approximately 173.31 per cent compared to the similar figure of. 7,21,604 crore in 2013-14. Personal income tax and corporate tax are examples of direct taxes.
Between 2013–14 and 2022–23, the direct tax to GDP ratio increased from 5.62 percent to 6.11 percent.
In the meantime, from 0.57 percent of total revenue in 2013–14 to 0.51 percent of total revenue in 2022–2023 has been the tax collecting cost.
Compared to the total number of ITRs filed in FY 2013–14, which was 3.80 crore, the total number of ITRs filed in FY 2022–2023 is 7.78 crore, representing a growth of 104.91 percent.
