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Direct tax mop-up zooms 173% to Rs 19.68 trn
New Delhi: India's gross direct tax collection increased 173 per cent to over Rs 19.68 lakh crore in 10 years to 2022-23. On a net basis, after...
New Delhi: India's gross direct tax collection increased 173 per cent to over Rs 19.68 lakh crore in 10 years to 2022-23.
On a net basis, after adjusting refunds, direct tax collection zoomed 160 per cent since the 2013-14 fiscal to over Rs 16.61 lakh crore in 2022-23. The Central Board of Direct Taxes (CBDT) has released Time-Series data as updated up to fiscal 2021-22 and also provided provisional data for 2022-23.
Direct Tax Buoyancy at 2.52 in FY 2021-22 is the highest Direct Tax Buoyancy recorded over the last 15 years. The direct tax to GDP ratio has increased from 5.62 per cent in 2013-14 to 5.97 per cent in 2021-22. The cost of collection has decreased from 0.57 per cent of the total collection in FY 2013-14 to 0.53 per cent of the total collection in FY 2021-22, CBDT added.
