Net direct tax collection up 23 pc to 7.04 lakh crore

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Net direct tax collection up 23 pc to 7.04 lakh crore

The income tax department said on Tuesday that net direct tax collection has increased 23 per cent to 7.04 lakh crore so far this fiscal. In 2021 -- 22, the Central Board of Direct Taxes CBDT Chairman Nitin Gupta said the income and corporate tax collections were at a record high of 14.09 lakh crore. The momentum of the last fiscal continues with net direct tax collection of Rs 7.04 lakh crore so far, which is a growth of 23 per cent over the same period last fiscal, Gupta said. Gupta said at the Finance Minister's Award ceremony for CBDT officers that the I-T e-filing portal has stabilised and it has facilitated 5.83 crore tax return filing as of July 31. A record 72 lakh returns were filed on the portal on a single day. July 31 was the last day to file ITRs for salaried individuals for income earned in the 2021 -- 22 fiscal year. Gupta said I-T refunds worth Rs 1.41 lakh crore have been issued so far this fiscal, which is an increase of 83 per cent over the same period last year. The CBDT chief said the department is using technology to increase tax collection.