Get latest articles and stories on Business at LatestLY. Direct tax collections surged to Rs 14.09 lakh crore in 2021-22 registering a year-on-year growth of 49.02 per cent on the back of strong growth in mop-up from income and corporation tax, Central Board of Direct Taxes (CBDT) Chairman J B Mohapatra said. Business News | Income and Corporation Tax Collection in 2021-22 Best in 5 Years: CBDT Chairman.
Direct tax collections surged to Rs 14.09 lakh crore in 2021-22 registering a year-on-year growth of 49.02 per cent on the back of strong growth in mop-up from income and corporation tax, Central Board of Direct Taxes (CBDT) Chairman J B Mohapatra said.
In key direct tax proposals in Union Budget 2022, the government has proposed to make provisions related to deduction or collection at higher rates for non-filers more stringent.