In fiscal year 22, net direct tax collection achieves an all-time high

8.In fiscal year 22, net direct tax collection achieves an all-time high

In the fiscal year 2021-22, the net direct tax collections of income tax and corporate tax achieved an all time high of Rs 14.09 lakh crore against Rs 9.45 lakh crore collection in the financial year 2020-21, said CBDT (Central Board of Direct Taxes) Chairman J. B. Mohapatra.

There is a 49.02 % increase in the net direct tax collection in the fiscal year 2021-22, while it has registered growth of 34.16 % in the fiscal year 2021-22 over the tax collection of Rs. 1050680.56 crore in 2019-20 and the growth of 23.90 % over the collection of Rs 1137718 crore in 2018-19, he added.

Mohapatra highlighted that the tremendous increase in direct and indirect tax collection in the country is an indication of the strengthening of the Economy of India.

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