Tatsat Chronicle Magazine

/

48% Jump In Direct Tax Collections in 2021-22: CBDT Chief

Central Board of Direct Taxes Chairman J B Mohapatra said, at ₹13.63 lakh crore, this is the highest direct tax collection in department's history

income tax

Central Board of Direct Taxes (CBDT) Chairman J B Mohapatra said that the Income Tax (IT) department has recorded the highest tax collection in its history. In the current financial year, there has been an increase of 48 per cent in the collection of direct tax, added the CBDT chairman. This also includes advance tax collection, which has increased by 41 per cent in the current financial year.

Mohapatra said that the net collection of direct taxes to date has been ₹13.63 lakh crore. This is 48 percent more than the corresponding period a year ago. He said that the net collection on an annual basis is 48.4 percent higher than the corresponding period of 2020-21. It is 42.5 percent higher than 2019-20 and 35 percent higher than 2018-19.

“This is ₹2.5 lakh crore more than the previous highest direct tax collection figure. This is the highest figure for income tax collection in the history of the department,” Mohapatra said.

If one looks at the gross number, the amount collected comes out to be ₹15.50 lakh crore, which is 38.3 per cent higher than the figures for 2020-21, 36.6 per cent from 2019-20 and 32.7 per cent from 2108-19. “Our gross collection ever is ₹12.79 lakh crore. This year, we have entered the gross figure of ₹15 lakh, which is also a historic high for the department,” said the CBDT chairman,

In India, around 53 per cent of the direct tax collection comes from corporate tax collection, while 47 percent comes from personal income tax, which includes security transaction tax (STT).

0 0.00