Direct Tax Collection: The Central Board of Direct Taxes (CBDT) said on Sunday that the country’s total direct tax collection has increased to Rs 18.38 lakh crore. There has been an increase of 17.30 percent in comparison to last year. The data released by CBDT is till February 10.
Net direct tax collection also reached Rs 15.60 lakh crore
CBDT (Central Board of Direct Taxes) said in its report released on Sunday that the country’s net direct tax collection has also increased by 20.25 percent compared to last year and has touched the figure of Rs 15.60 lakh crore. This figure is 80.23 percent of the revised estimates for the financial year 2023-24. Apart from this, the gross direct tax collection till February 10 has also increased by 17.30 percent to Rs 18.38 lakh crore as compared to last year.
Corporate and personal income tax figures are also increasing
CBDT said that these figures of direct tax collection are continuously going up. Along with this, the figures of Corporate Income Tax (CIT) and Personal Income Tax (PIT) are also continuously increasing. There has been an increase of 13.57 percent in corporate income tax and 26.91 percent increase in personal income tax. According to CBDT data, refunds worth Rs 2.77 lakh crore have also been issued till February 10.
Number of ITRs doubled in 10 years
According to Indian Government data, the number of people filing Income Tax Returns has doubled in the last 10 years to 7.78 crore. This number of ITRs filed in the financial year 2023 has increased by 104.91 percent as compared to the financial year 2013-14. 3.8 crore ITRs were filed in the financial year 2013-14.
Direct tax collection also increased by 160.52 percent in a decade
According to CBDT data, net direct tax collection has also increased by 160.52 percent in the same period. In the financial year 2013-14 this figure was Rs 6,38,596 crore. Net direct tax collection increased to Rs 16,63,686 crore in the financial year 2022-23. In these 10 years, the direct tax to GDP ratio also increased from 5.62 percent to 6.11 percent.
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