Introduction: Lok Sabha Unstarred Question No. 87, presented by Shrimati Mala Roy, probes into crucial aspects of India’s Income Tax scenario for the Financial Year 2022-23. The question seeks information on the percentage of people filing returns, the total income tax collected, and the annual plan and non-plan expenditure of the Income Tax Department.
Detailed Analysis:
1. Filing and Payment Statistics: In response to (a), the Minister of State in the Ministry of Finance, Shri Pankaj Chaudhary, reveals that in the Financial Year 2022-23, 10.09 crore PAN holders paid taxes. As of December 2, 2023, 7.76 crore returns have been filed, with more expected before the year-end deadline.
2. Total Income Tax Collection: Addressing (b), Shri Pankaj Chaudhary discloses that the total net direct tax collection for the fiscal year is a substantial Rs. 16,63,686.47 crores. Out of this, the income tax collection alone amounts to Rs. 8,08,221.28 crore.
3. Expenditure Breakdown: Regarding (c), the Minister explains the reclassification of plan and non-plan expenditure into Capital and Revenue Expenditure since FY 2017-18. The Income Tax Department’s total expenditure under the Revenue Account is Rs. 8459.05 crore, and under the Capital Account is Rs. 417.80 crore. These figures are part of the total grant provisioned under Detailed Demand for Grants, amounting to Rs. 9308.80 crore for FY 2022-23.
Conclusion: The response to Lok Sabha Unstarred Question No. 87 provides valuable insights into the state of Income Tax in India for the Financial Year 2022-23. With a considerable number of PAN holders filing returns and substantial tax collections, the data reflects a robust financial landscape. The breakdown of expenditures underscores the meticulous planning involved in managing the fiscal responsibilities of the Income Tax Department. As the fiscal year concludes, these figures serve as a testament to the nation’s financial health and the efficiency of tax administration.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
LOK SABHA
UNSTARRED QUESTION NO. 87
TO BE ANSWERED ON MONDAY, DECEMBER 4, 2023/AGRAHAYANA 13, 1945 (SAKA)
INCOME TAX RETURNS
87. SHRIMATI MALA ROY:
Will the Minister of Finance be pleased to state :
(a) the percentage of people who filed income tax returns, paid income tax in the financial year 2022-23;
(b) the details of total amount of income tax collected during the said financial year; and
(c) the annual plan and non-plan expenditure of the Income Tax Department?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)
(a) In Financial Year 2022-23, 10.09 crore PAN holders have paid taxes. For the corresponding period, 7.76 crore returns have been filed till 02-12-2023 and more returns are expected to be filed till the last date, i.e. 31-12-2023.
(b) The total net direct tax collection during Financial Year 2022-23 is Rs.16,63,686.47 crores out of which income tax collection is Rs.8,08,221.28 crore.
(c) Starting from Financial Year 2017-18, the classification of plan and non-plan expenditure has been abolished and has been reclassified as Capital and Revenue Expenditure.
The total expenditure of Income Tax Department under Revenue Account is Rs.8459.05 crore and in Capital Account is Rs.417.80 crore out of total grant provisioned under Detailed Demand for Grants of Rs.9308.80 crore for the Financial Year 2022-23.
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