Direct tax Collections Surged To ₹ 14.09 Lakh Crore In 2021-22

Direct tax collections surged to ₹ 14.09 lakh crore in 2021-22 registering a year-on-year growth of 49.02 per cent on the back of strong growth in mop-up from income and corporation tax, Central Board of Direct Taxes (CBDT) Chairman J B Mohapatra said.

Net direct tax collections for 2021-22 surged to ₹ 14,09,640.83 crore, showing a growth of 49.02 per cent. Gross direct tax collections for the financial year ended March 31, stood at ₹ 16,34,454.95 crore showing a growth of 32.75 per cent.

Refunds amounting to ₹ 2,24,814.12 crore have been issued in 2021-22. More than 7.14 crore income tax returns for assessment year 2021-22 have been filed on the new e-filing portal, Mr Mohapatra told reporters.

He further said that Mumbai is the leading city in India with a tax collection of ₹ 4.4 lakh crore. Bengaluru is number two followed by Delhi, Chennai, Hyderabad, Pune, and Ahmadabad.