As per it, the number of persons filing return of income has increased by about 65 per cent during this period – from 3.31 crore in FY 2013-14 to 5.44 crore in FY 2017-18.
The Central Board of Direct Taxes (CBDT) has said there is a constant growth in direct tax-GDP ratio over last three years and the ratio of 5.98 per cent in FY 2017-18 is the best DT-GDP ratio in last 10 years.
In its direct tax report for financial year 2017-18, CBDT said there is a growth of more than 80 per cent in the number of returns filed in the last four financial years from 3.79 crore in FY 2013-14 (base year) to 6.85 crore in FY 2017-18.
As per it, the number of persons filing return of income has also increased by about 65 per cent during this period – from 3.31 crore in FY 2013-14 to 5.44 crore in FY 2017-18.
"There has been continuous increase in the amount of income declared in the returns filed by all categories of taxpayers over the last three assessment years (AYs). For AY 2014-15, corresponding to FY 2013-14 (base year), the return filers had declared gross total income of Rs.26.92 lakh crore, which has increased by 67 per cent to Rs 44.88 lakh crore for AY 2017-18, showing higher level of compliance resulting from various legislative and administrative measures taken by the government, including effective enforcement measures against tax evasion," said Ministry of Finance in an official note on Monday.
The CBDT said the total number of taxpayers showing income of above Rs 1 crore has also registered sharp increase over the three-year horizon.
"While 88,649 taxpayers disclosed income above Rs 1 crore in AY 2014-15, the figure was 1,40,139 for AY 2017-18 (growth of about 60 per cent)."
Similarly, the number of individual taxpayers disclosing income above Rs 1 crore increased during the period under reference from 48,416 to 81,344, which translates into a growth of 68 per cent.
The average tax paid by corporate taxpayers has increased from Rs 32.28 lakh in AY 2014-15 to Rs 49.95 lakh in AY 2017-18 (growth of 55 per cent), it said and added, "There is also an increase of 26 per cent in the average tax paid by individual taxpayers from Rs 46,377 in AY2014-15 to Rs 58,576 in AY2017-18.
Source: Media reports, PIB