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Direct tax collection up by 49% in FY22: CBDT chief

“This growth clearly indicated that India’s economy has strengthened and bounced back after two bad years,” Mohapatra told reporters after a two-day annual conference of Income Tax India.

April 27, 2022 / 07:09 AM IST
More than 10 crore Indians became Ponzi scheme in last 30 years, AMFI said (Representative image)

More than 10 crore Indians became Ponzi scheme in last 30 years, AMFI said (Representative image)

The net direct tax collection has registered a whopping 49.02 per cent growth to over Rs 14.09 lakh crore in the 2021-22 fiscal as the country’s economy “bounced back” after being hit by the COVID-19 pandemic, CBDT Chairman J B Mohapatra said here on Tuesday. The net direct tax mop-up was Rs 9.45 lakh crore in the previous financial year.
“This growth clearly indicated that India’s economy has strengthened and bounced back after two bad years,” Mohapatra told reporters after a two-day annual conference of Income Tax India.

The net direct tax collection in FY 2021-22 has posted a growth of 34.16 per cent as compared to Rs 10.50 lakh crore mop up in FY 2019-20.

The gross direct tax collection before adjusting for refunds in the 2021-22 fiscal (FY 22) stood at over Rs 16.34 lakh crore, registering a growth of 32.75 per cent from Rs 12.31 lakh crore in the FY21, he said.

The gross collection in the 2021-22 fiscal has registered a growth of 32.42 per cent over that of the 2019-20 financial year.