Reforms undertaken by the Government within the Income Tax department and the “strengthening” of the Indian economy are among the major factors that led to the highest-ever direct tax collections in the country, which stand at over ₹13.63 lakh crore, CBDT Chairman J.B. Mohapatra has said.
He said apprehensions about the State of the economy, battered by the COVID-19 spread, were belied as it “did so well and the corporates came out so well [in paying taxes]” during the current financial year 2021-22.
Mr. Mohapatra exuded confidence that the direct tax mop up, which primarily includes personal income tax and corporation tax revenue receipts, will continue its present streak and the department will be able to successfully chase the target of collecting ₹14.20 lakh crore in taxes in the next fiscal.
