NEW DELHI: The earnings taxdepartment on Thursday mentioned I-T returns filed by particular person taxpayers have risen 90 per cent in 8 years to 6.37 crore in AY 2021-22, indicating a widening of the taxpayer base. The returns filed by particular person taxpayers have elevated from 3.36 crore in Assessment Year (AY) 2013-14 to 6.37 crore in AY 2021-22, registering an total enhance of 90 per cent.During the present fiscal too, 7.41 crore returns have been filed for AY 2023-24 until date, together with 53 lakh first-time filers, the Central Board of Direct Taxes (CBDT) mentioned in an announcement.
Giving a breakup of the returns filed by particular person taxpayers throughout numerous ranges of gross whole earnings, the CBDT mentioned the ITRs filed by particular person taxpayers incomes between Rs 5 lakh and Rs 10 lakh have elevated 295 per cent throughout the interval from AY 2013-14 to AY 2021-22.
There has been a 291 per cent enhance in ITRs filed by individuals with gross whole earnings between Rs 10 lakh and Rs 25 lakh.
“This indicates that individual taxpayers are showing a positive trend of migration to a higher range of gross total income,” the CBDT mentioned.
In the vary of gross whole earnings of up to Rs 5 lakh, the variety of returns filed by particular person taxpayers has elevated from 2.62 crore in AY 2013-14 to 3.47 crore in AY 2021-22, registering a rise of 32 per cent. This vary of earnings consists of individuals having earnings under the taxable restrict who is probably not filing returns.
An additional evaluation of the info of particular person taxpayers for AY 2013-14 and AY 2021-22 confirmed that the typical gross whole earnings for particular person taxpayers elevated from about Rs 4.5 lakh in AY 2013-14 to about Rs 7 lakh in AY 2021-22 representing a rise of 56 per cent.
The enhance in common gross whole earnings for the highest 1 per cent of particular person taxpayers is 42 per cent, whereas that for the underside 25 per cent of particular person taxpayers is 58 per cent.
The proportionate contribution of the gross whole earnings of the highest 1 per cent of particular person taxpayers vis-a-vis all particular person taxpayers has decreased from 15.9 per cent in AY 2013-14 to 14.6 per cent in AY 2021-22.
The proportionate contribution of the gross whole earnings of the underside 25 per cent of particular person taxpayers vis-a-vis all particular person taxpayers has elevated from 8.3 per cent in AY 2013-14 to 8.4 per cent in AY 2021-22.
The proportion of gross whole earnings of the center 74 per cent group of particular person taxpayers elevated from 75.8 per cent to 77 per cent throughout the interval.
“…data is clearly indicative of a robust growth in the gross total income of individuals across different income groups subsequent to AY 2013-14. The overall impact has been reflected in an increase in net direct tax collections from Rs 6.38 lakh crore in FY 2013-14 to Rs 16.61 lakh crore in FY 2022-23,” the CBDT mentioned.
The 2023-24 funds has pegged direct tax assortment at just a little over Rs 18.23 lakh crore, a 9.75 per cent increased than Rs 16.61 lakh crore mopped up in the final fiscal.
Giving a breakup of the returns filed by particular person taxpayers throughout numerous ranges of gross whole earnings, the CBDT mentioned the ITRs filed by particular person taxpayers incomes between Rs 5 lakh and Rs 10 lakh have elevated 295 per cent throughout the interval from AY 2013-14 to AY 2021-22.
There has been a 291 per cent enhance in ITRs filed by individuals with gross whole earnings between Rs 10 lakh and Rs 25 lakh.
“This indicates that individual taxpayers are showing a positive trend of migration to a higher range of gross total income,” the CBDT mentioned.
In the vary of gross whole earnings of up to Rs 5 lakh, the variety of returns filed by particular person taxpayers has elevated from 2.62 crore in AY 2013-14 to 3.47 crore in AY 2021-22, registering a rise of 32 per cent. This vary of earnings consists of individuals having earnings under the taxable restrict who is probably not filing returns.
An additional evaluation of the info of particular person taxpayers for AY 2013-14 and AY 2021-22 confirmed that the typical gross whole earnings for particular person taxpayers elevated from about Rs 4.5 lakh in AY 2013-14 to about Rs 7 lakh in AY 2021-22 representing a rise of 56 per cent.
The enhance in common gross whole earnings for the highest 1 per cent of particular person taxpayers is 42 per cent, whereas that for the underside 25 per cent of particular person taxpayers is 58 per cent.
The proportionate contribution of the gross whole earnings of the highest 1 per cent of particular person taxpayers vis-a-vis all particular person taxpayers has decreased from 15.9 per cent in AY 2013-14 to 14.6 per cent in AY 2021-22.
The proportionate contribution of the gross whole earnings of the underside 25 per cent of particular person taxpayers vis-a-vis all particular person taxpayers has elevated from 8.3 per cent in AY 2013-14 to 8.4 per cent in AY 2021-22.
The proportion of gross whole earnings of the center 74 per cent group of particular person taxpayers elevated from 75.8 per cent to 77 per cent throughout the interval.
“…data is clearly indicative of a robust growth in the gross total income of individuals across different income groups subsequent to AY 2013-14. The overall impact has been reflected in an increase in net direct tax collections from Rs 6.38 lakh crore in FY 2013-14 to Rs 16.61 lakh crore in FY 2022-23,” the CBDT mentioned.
The 2023-24 funds has pegged direct tax assortment at just a little over Rs 18.23 lakh crore, a 9.75 per cent increased than Rs 16.61 lakh crore mopped up in the final fiscal.
