Net tax collection up 23 per cent to 7.04 lakh crore

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Net tax collection up 23 per cent to 7.04 lakh crore

The net direct tax collection has gone up 23 per cent to 7.04 lakh crore so far this fiscal, the income tax department said on Tuesday. In 2021 -- 22, the Central Board of Direct Taxes CBDT Chairman Nitin Gupta said that the income and corporate tax collections were at a record high of 14.09 lakh crore. The last fiscal year saw net tax collection of Rs 7.04 lakh crore increase, which is a growth of 23 per cent over the same period last fiscal, Gupta said. The Finance Minister's Award ceremony for CBDT officers was attended by Gupta, who said 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. This fiscal, I-T refunds worth Rs 1.41 lakh crore have been issued, an increase of 83 per cent over the same period last year, according to Gupta. The CBDT chief said the department is using technology to increase tax collection.