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The finance ministry has said personal income tax as a percentage of Gross domestic product (GDP) has gone up from 2.11 per cent in 2014-15 to 2.94 per cent in 2021-22 fiscal, indicating that taxpayer base is widening as a result of the steps taken by the present government led by Prime Minister Narendra Modi.  The personal income tax collection (including Securities Transaction Tax) increased to over Rs 6.96 lakh crore, from over Rs 2.65 lakh crore in 2014-15.

The ministry said Introduction of new data sources in Statement of Financial Transactions (SFT) like dividend and interest; securities; mutual funds and information from GSTN in recent years has led to 1,118 per cent increase in reported information. This has resulted in addition of information of about 3 crore persons.

Moreover, it said introduction of new tax deducted at source (TDS) codes, which have almost doubled from 36 to 65 in last eight years, led to increase in total reported transaction in FY 2021-22 to 144 crore as compared to the number of reported transactions in FY 2015-16 of 70 crore. This has resulted in doubling of the number of unique deductees from 4.8 crore (in 2015-16) to 9.2 crore (in 2021-22).