The internet direct tax collections (earnings tax and company tax) reached an all time excessive of Rs 14.09 lakh crore in monetary 12 months 2021-22 towards Rs 9.45 lakh crore collections in FY 2020-21, CBDT Chairman J.B. Mohapatra mentioned on Tuesday.
The internet direct tax collection has elevated by 49.02 per cent throughout monetary 12 months 2021-22, whereas it has registered a development of 34.16 per cent in FY 2021-22 over the collections of 2019-20 when the online collection was Rs 10,50,680.56 crore, and a development of 23.90 per cent over 2018-19 when the online collection was Rs 11,37,718.48 crore, he mentioned.
The gross direct tax collection (earlier than adjusting for refunds) for 2021-22 stands at Rs 16,34,454.95 crore in comparison with Rs 12,31,270.52 crore in 2020-21, thereby registering a development of 32.75 per cent, mentioned Mohapatra.
He additionally mentioned that the gross collection in 2021-22 has registered a development of 32.42 per cent over the collections of 2019-20 when the gross collection was Rs 12,34,258.42 crore and a development of 25.84 per cent over the collections of 2018-19 when the gross collection was Rs 12,98,797.32 crore.
During the final monetary 12 months, 2.43 crore refunds had been issued in comparison with 2.37 crore in 2020-21 amounting to Rs 2,24,814 crore. This consists of 2.01 crore refunds of AY 2021-22 itself because of quicker processing of returns.
More than 7.14 crore Income Tax Returns (ITRs) had been filed for AY 2021-22 as on March 31, 2022 on the brand new e-filing portal, in comparison with 6.97 crore ITRs filed for AY 2020-21 until May 31, 2021 (prolonged final date of the previous 12 months) representing a rise of 2.4 per cent.
Mohapatra mentioned that the super development in direct and oblique tax collections in the nation signifies the strengthening of the Indian financial system. Quite a bit of reforms have been undertaken ensuing in all these optimistic outcomes, he added.
About the price range collection of Odisha area, he mentioned it has exceeded the price range goal over the past fiscal.
The area has collected Rs 15,481 crore in the final monetary 12 months towards a goal of Rs 14,000 crore, and the collection throughout FY 2021-22 marked a rise of 52.50 per cent over the Budget collections of earlier 12 months. The state has big potential and is rising at par with nationwide statistics in phrases of tax collections, he added.
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