The tax division mentioned that the collections in 2021 have been increased than the collections in monetary yr 2018-19 (pre-Covid) by over 9 per cent.
The earnings tax division has mentioned that the company tax collections until July 31 this monetary yr witnessed a development of 34 per cent as in comparison with the collections within the corresponding interval within the monetary yr 2021-22.
The IT division tweeted that the company tax collections within the monetary yr 2021-22 stood at ₹7.23 lakh crore, registering a development of over 58 per cent as in comparison with the collections in fiscal 2020-21.
The tax division mentioned that the collections in 2021 have been increased than the collections in monetary yr 2018-19 (pre-Covid) by over 9 per cent.
“The constructive pattern of development continues, however for the general impression of the COVID-19 pandemic throughout FY 2020-21, when the company tax collections took a short lived hit. This means that the simplified tax regime with low charges and no exemptions has lived as much as its promise,” the earnings tax division tweeted.
In one other improvement, a report 72.42 lakh earnings tax returns have been filed on the final day on July 31, PTI reported. This took the cumulative returns to five.83 crore, near the identical numbers final yr.
“The surge of submitting ITRs peaked on July 31, 2022 (due date for salaried taxpayers and different non-tax audit circumstances) with over 72.42 lakh ITRs being filed on a single day,” an official assertion mentioned.
The overall ITRs filed until July 31, 2022 for evaluation yr 22-23 is about 5.83 crore, it mentioned.
Final fiscal (2020-21), about 5.89 crore ITRs (Earnings Tax Returns) have been filed by the prolonged due date of December 31, 2021.
(With PTI inputs)
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