Net Direct Tax Collection Increases by 172.83 % in Last 9 Yrs: Govt

New Delhi: Direct Tax collections have witnessed a quantum jump in the last nine years. In these years, the gross tax collections have increased by 172.83 percent.

According to the provisional data released by the Central Board of Direct Taxes, more than 19 lakh 68 thousand crore rupees gross direct tax were collected in the last fiscal which was seven lakh 21 thousand crore rupees in the financial year 2013-14.

CBDT informed that net direct tax collection has witnessed 160 percent growth since 2013-14. More than 16 lakh 61 thousand crore rupees were collected as Direct Tax in the last financial year which was over six lakh 38 thousand crore rupees in the financial year 2013-14.

CBDT informed that the direct tax to Gross Domestic Product ratio has increased from 5.62 percent in the financial year 2013-14 to 5.97 percent in the financial year 2021-22. It said direct tax buoyancy at 2.52 in the financial year 2021-22 is the highest direct tax buoyancy recorded over the last 15 years.