India’s direct tax-to-GDP ratio has elevated from 5.62 per cent in FY 2013-14 to six.11 per cent in FY 2022-23.
India’s gross direct tax collections of Rs 19,72,248 crore in FY 2022-23 have registered a rise of over 173.31 per cent
India’s internet direct tax collections jumped 160.52 per cent to Rs 16,63,686 crore in 10 years between monetary years 2022-23 and 2013-14.
The nation’s internet direct tax collections had stood at Rs 6,38,596 crore within the monetary 12 months 2013-14.
“Gross direct tax collections of Rs 19,72,248 crore in FY 2022-23 have registered an increase of over 173.31 per cent compared to gross direct tax collections of Rs 7,21,604 crore in FY 2013-14,” the finance ministry stated in an announcement.
India’s direct tax-to-GDP ratio has elevated from 5.62 per cent in FY 2013-14 to six.11 per cent in FY 2022-23.
“The cost of collection has decreased from 0.57 per cent of total collection in the FY 2013-14 to 0.51 per cent of total collection in the FY 2022-23,” it stated.
The whole variety of ITRs filed in FY 2022-23 stands at 7.78 crore exhibiting a rise of 104.91 per cent as in comparison with the entire variety of ITRs of three.80 crore filed in FY 2013-14, in line with the assertion.
