Record tax collection for 2021-2022, crosses Rs 27 lakh crore - In 2021-22, the total tax revenue reached Rs 27.07 lakh crore with a record increase of 34%. This is about Rs 5 lakh crore more than budget estimate.
Commonly used items like earphones, headphones and loudspeakers, umbrellas along with solar cells and solar modules and even toys are set to see a price hike due to an increase in customs duties on imported parts.
Although the Finance Minister Nirmala Sitharaman made no major announcement regarding the Income Tax slabs, she did propose a slew of other benefits for the salaried individuals.