Statsguru: Record tax filings indicate potential growth challenges ahead

New records in tax filing show signs of headwinds to growth going forward. The government announced that tax filing for the assessment year 2022-23 (AY24) had touched a record figure of 81.8 million as of December. This is higher than the 75.2 million seen in the previous year (chart 1).

Gross total income has gone up 229 per cent since AY13 and was nearing Rs 70 trillion as of AY22. Tax payable was nearing Rs 10 trillion (chart 2).

The sub-components of gross total income show that long-term and short-term capital gains grew the