The number of tax payers filing income tax returns has more than doubled to 7.78 crore in the past 10 years, as per government data.
Releasing key statistics, the Central Board of Direct Taxes (CBDT) on Tuesday said 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.
During the same period, the net direct tax collections increased 160.52 per cent from ₹6,38,596 crore in FY14 to ₹16,63,686 crore in 2022-23, it said.
The government has budgeted to collect ₹18.23 lakh crore from direct taxes (personal income tax and corporate tax) — 9.75 per cent higher than ₹16.61 lakh crore mopped up last fiscal.
According to CBDT data, gross direct tax collections increased 173.31 per cent to ₹19,72,248 crore in FY23 from ₹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.