The income of all sections of the country has increased in the last 10 years. The figures have been released by the Income Tax Department. According to the data, the number of income tax filers in the year 2021-22 increased to 6.37 crore.
Due to the steps taken by the government, the income of all sections of society has increased in the last 10 years. The huge increase in the number of people filing Income Tax Returns (ITR) is a clear testimony to this.
According to the data released by the Income Tax Department on Thursday, the number of individuals filing ITR in the assessment year 2013-14 was 3.36 crore, which increased to 6.37 crore in the assessment year 2021-22 and will continue to increase in the assessment year 2023-24. Since April till now, 7.41 crore ITRs have been filed.
53 lakh people filed nomination for the first time
Among these, the number of people filing ITR for the first time is 53 lakh. That means, in the last ten years, the number of people filing ITR has increased by 100 percent i.e. more than double. According to the department, the number of ITRs filed by people of all income groups is increasing.
56 percent increase in average income
According to the department’s data, the total average income of individual taxpayers increased by 56 percent from assessment year 2013-14 to assessment year 2021-22. On an average, the number of ITRs filed by those with a total annual income of Rs 5 to 10 lakh increased by 295 percent between assessment year 2013-14 to assessment year 2021-22, while the number of ITRs filed by those with an annual income of Rs 10 lakh to Rs 20 lakh increased by 295 percent. There was an increase of 291 percent.
The share of lower class people in tax contribution is also continuously increasing. In assessment year 2013-14, 2.62 crore ITRs were filed with income up to Rs 5 lakh. In the assessment year 2021-22, the number of ITRs for the annual income group of five lakh increased to 3.47 crore. That means there was an increase of 32 percent.
There was a significant increase in direct tax collection also
According to the Income Tax Department, due to simplification of rules and increase in people’s income, there has been a significant increase in direct tax collection in the last nine years. The net direct tax collection was Rs 6.38 lakh crore in the financial year 2013-14, which increased to Rs 16.61 lakh crore in the financial year 2022-23.
