India’s direct tax collections increased by over 160% between FY14 and FY23
15 Apr 2023
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Net direct tax collections of the central government increased by 160.17 per cent to Rs16,61,428 crore (provisional) in the 2022-23 financial year from Rs6,38,596 crore in the 2013-14 fiscal, figures released by the Central Board of Direct Taxes (CBDT) on Thursday showed.
Gross direct tax collections increased by over 172.83 per cent to Rs19,68,780 crore (provisional) in the 2022-23 financial year from Rs7,21,604 crore in the 2013-14 fiscal.
Similarly, net direct tax collections of the central government increased by 121.18 per cent to Rs14,12,422 crore in the financial year 2021-22 from Rs6,38,596 crore in the 2013-14 fiscal, as per CBDT estimates.
Gross direct tax collections increased by over 126.73 per cent to Rs16,36,081 crore in the 2021-22 financial year from Rs7,21,604 crore in the 2013-14 fiscal.
Direct tax buoyancy at 2.52 in the financial year 2021-22 is the highest recorded over last 15 years, the release points out, adding that the direct tax to GDP ratio increased to 5.97 per cent in the 2021-22 financial year from 5.62 per cent in the 2013-14 fiscal.
The cost of collection has decreased from 0.57 per cent of total collection in the 2013-14 financial year to 0.53 per cent of total collection in the 2021-22 fiscal.
CBDT has been releasing key statistics relating to direct tax collections and administration in public domain from time to time. It has further released time-series data as updated up to 2021-22.
The availability of the Time-Series data in public domain will be useful for academicians, research scholars, economists and the public at large in studying long-term trends of various indices of the effectiveness and efficiency of Direct Tax administration in India. This time series data is available at www.incometaxindia.gov.in, according to a finance ministry release.
