Net Direct Tax Collections increase by 206.95% from Rs. 6,38,596 crores in F.Y. 2013-14 to Rs. 19,60,166 crores in F.Y. 2023-24
Net Direct Tax Collections increase by 206.95% from Rs. 6,38,596 crores in F.Y. 2013-14 to Rs. 19,60,166 crores in F.Y. 2023-24
Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain, the CBDT has further released Time-Series data as updated up to F.Y. 2023-24. The key highlights of some of these statistics are as under: –
The availability of the Time-Series data in public domain will be useful for academicians, research scholars, economists and the public at large in studying long-term trends of various indices of the effectiveness and efficiency of Direct Tax administration in India. This time series data is available at www.incometaxindia.gov.in.
- Net Direct Tax Collections have increased by 206.95% from Rs. 6,38,596 crores in F.Y. 2013-14 to Rs. 19,60,166 crores in F.Y. 2023-24.
- Gross Direct Tax Collections have increased by over 224.06% in F.Y. 2023-24, reaching a figure of Rs. 23,38,421 crores from Gross Direct Tax Collections of Rs. 7,21,604 crores in F.Y. 2013-14.
- Direct Tax to GDP ratio has increased from 5.62% in F.Y. 2013-14 to 6.64% in F.Y. 2023-24.
- The Cost of collection has decreased from 0.57% of total collection in the F.Y 2013-14 to 0.44% of total collection in the F.Y. 2023-24.
- The total number of ITRs filed in FY 2023-24 stands at 8.61 crores showing an increase by 126.58% as compared to total number of ITRs of 3.80 crores filed in FY 2013-14.