The variety of revenue tax returns filed (together with revised returns) elevated from greater than 4.04 crore in 2014-15 fiscal to greater than 8.61 crore in 2023-24. File
Direct tax collections have surged 182% to greater than ₹19.60 lakh crore in 2023-24 within the 10-year interval of Prime Minister Narendra Modi-led authorities.
The most recent ‘Time Collection Knowledge’ launched by the Revenue Tax Division confirmed that the company tax collections greater than doubled to greater than ₹9.11 lakh crore in 10 years to 2023-24 fiscal. Private revenue tax mop up grew near four-fold to ₹10.45 lakh crore through the interval.
Within the first 12 months of the Modi authorities in 2014-15, direct tax assortment was about ₹6.96 lakh crore. This included about ₹4.29 lakh crore of company tax and ₹2.66 lakh crore of private revenue tax.
The variety of revenue tax returns filed (together with revised returns) elevated from greater than 4.04 crore in 2014-15 fiscal to greater than 8.61 crore in 2023-24.
Direct tax-to-GDP ratio elevated from 5.55% in 2014-15 to six.64% in 2023-24. Tax buoyancy, which measures income mobilisation effectivity with respect to GDP progress, elevated from 0.86 to 2.12 within the 10-year interval. The variety of taxpayers elevated from 5.70 crore in Evaluation Yr (AY) 2014-15 to 10.41 crore in 2023-24 AY.
Revealed – October 17, 2024 05:08 pm IST
