A big news has come from the Income Tax Department. In fact, the department has made the highest ever income tax collection in the current financial year. This information has been shared by the Central Board of Direct Taxes. CBDT Chairman JB Mohapatra said that there has been a growth of 48 per cent in direct tax collection in the country in the current financial year.
Mohapatra said that if we look at the figures till March 17, 2022, the net collection of direct tax has been Rs 13.63 lakh crore. This is 48 percent more than the corresponding period a year ago. It also includes data on advance tax collection. Advance tax payment has increased by 41 per cent in the current financial year.
The CBDT chairman said that the net collections on an annual basis are 48.4 per cent higher than the corresponding period of 2020-21. It is 42.5% higher than 2019-20 and 35% higher than 2018-19. Mohapatra said that this is more than Rs 2.5 lakh crore from the previous highest figure. According to Mohapatra, in this way this is the highest figure of income tax collection in the history of the department.