New Delhi, Apr 13 (PTI) India's gross direct tax collection increased 173 per cent to over Rs 19.68 lakh crore in 10 years to 2022-23.

On a net basis, after adjusting refunds, direct tax collection zoomed 160 per cent since the 2013-14 fiscal to over Rs 16.61 lakh crore in 2022-23.

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The Central Board of Direct Taxes (CBDT) has released Time-Series data as updated up to fiscal 2021-22 and also provided provisional data for 2022-23.

Direct Tax Buoyancy at 2.52 in FY 2021-22 is the highest Direct Tax Buoyancy recorded over the last 15 years.

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The direct tax to GDP ratio has increased from 5.62 per cent in 2013-14 to 5.97 per cent in 2021-22.

The cost of collection has decreased from 0.57 per cent of the total collection in FY 2013-14 to 0.53 per cent of the total collection in FY 2021-22, CBDT added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)