Number of tax payers filing income tax returns has more than doubled to 7.78 crore in the past 10 years: CBDT
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The Central Board of Direct Taxes (CBDT) in its latest data has said the number of tax payers filing income tax returns has more than doubled to 7.78 crore in the past 10 years. It stated the number of Income Tax Returns (ITRs) filed in FY23 stood at 7.78 crore, showing an 104.91 per cent increase as compared to the 3.8 crore ITRs filed in 2013-14.
Further, it mentioned, during the same period, the net direct tax collections increased 160.52 per cent from Rs 6,38,596 crore in FY14 to Rs 16,63,686 crore in 2022-23. According to CBDT data, gross direct tax collections increased 173.31 per cent to Rs 19,72,248 crore in FY23 from Rs 7,21,604 crore in FY14.
At the same time direct tax-to-GDP ratio went up from 5.62 per cent to 6.11 per cent. The cost of collection, however, has decreased from 0.57 per cent of total collection in FY14 to 0.51 per cent of the total collection in the previous fiscal.
