Budget 2022: Income tax collections up, despite Covid

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.