Direct tax collection jumped to Rs 14.09 lakh crore in 2021-22 registering a year-on-year growth of 49.02 per cent following strong growth in mop-ups from income and corporation taxes, Direct Tax Center (CBDT) Board Chairman JB Mohapatra said.
Net direct tax collection for 2021-22 jumped to Rs 14,09,640.83 crore, showing a growth of 49.02 per cent. Gross direct tax collection for the financial year ended March 31, amounting to Rs 16,34,454.95 crore showed a growth of 32.75 per cent.
Refunds amounting to Rs 2,24,814.12 crore were issued in 2021-22. Over 7.14 crore of income tax returns for the assessment year 2021-22 have been filed on the new e-filing portal, Mr Mohapatra told reporters.
He further said Mumbai is the leading city in India with a tax collection of Rs 4.4 lakh crore. Bengaluru is number two followed by Delhi, Chennai, Hyderabad, Pune, and Ahmadabad.
Gross direct tax collection (before adjustment for refund) for the financial year 2021-22 stood at Rs 16,34,454.95 crore as against Rs 12,31,270.52 crore in 2020-21, showing an increase of 32.75 per cent.