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Budget 2022: Income tax collections up, despite Covid
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Credits: Sanjay Rawat
Budget 2022: Income tax collections up, despite Covid
This summary is AI-generated, and Fortune India is not responsible for its content or any associated copyright issues.
According to the Income Tax Department, nearly 5.89 crore income tax returns for FY21 (assessment year 2021-22) were filed till the December 31, 2021 deadline.
Credits: Sanjay Rawat
Income tax collections are likely to increase to ₹5.61 lakh crore in FY22 (according to budget estimates), compared with ₹4.59 lakh crore in FY21. According to the Income Tax Department, nearly 5.89 crore income tax returns for FY21 (assessment year 2021-22) were filed till the December 31, 2021 deadline, against 5.95 crore for FY20.
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