In the last 10 years, the number of income tax filers in the country has doubled to 7.78 crore, according to the Central Board of Direct Taxes.
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In this regard, the Central Board of Direct Taxes further stated that,
In the last financial year, the number of income tax filers in the country was 7.78 crore. This is an increase of 104.91 per cent as compared to 3.80 crore in the previous financial year 2013-14.
Net tax revenue also increased by 160.52 percent during this period.
The net tax revenue increased to Rs 16.64 lakh crore in the last financial year from Rs 6.39 lakh crore in 2013-14. Also, the total tax revenue has increased from Rs 7.22 lakh crore in the last financial year 2014 to Rs 19.72 lakh crore in the last financial year 2023.
Whereas the ratio of tax to gross domestic product has increased from 5.62 percent to 6.11 percent.
Contribution of direct taxation to GDP.. 2001...3.25 percent. 2008...6.30 percent. 2014...5.62 percent. 2021...4.78 percent. 2023...has risen to 6,11 percent..
The central government has set a target in the budget to collect Rs 18.23 lakh crore directly as tax revenue in the current financial year. This includes personal tax and corporate tax.
This is an increase of 9.75 percent compared to Rs 16.61 lakh crore in the previous fiscal year.