Direct Tax Collection In FY 2022 Was More Than 14 Lakh Crore

Direct tax collection in FY 2022 was more than 14 lakh crore, know what is the reason for the increase in payment.

There has been an increase in the number of people filing Income Tax Return (ITR) in FY 2022 as compared to the previous financial year.

Central Board of Direct Taxes (CBDT) Chairperson Sangeeta Singh said on Saturday that a total of 7.14 crore ITRs have been filed in the financial year 2022, as against 6.9 crores in the previous financial year.

The CBDT chairman said that the tax collection in FY 2022 has been more than Rs 14 lakh crore, which is much better than FY 2020.

There has been an increase in both Aadhaar and Revised Return of taxpayers in the last financial year.

She said that there has been an increase in tax collection. In general, with the growth of the economy, the tax collection also increases.

Direct tax collection in FY 2022: Increase in payment of tax due to Digital India initiative.

She said that if there is an increase in economic activity, then there is also an increase in buying and selling. As long as the economy does not grow, the tax collection also does not increase.

She said that due to the Digital India initiative of Prime Minister Narendra Modi, there has been an increase in the payment of tax.

In the Corona era, people have paid taxes on their own in a digital way. Perhaps this is the result of the change taking place in the minds of the people.

Steps were taken on a large scale for digitization in the last years.

CBDT Chairman Sangeeta Singh said that the awareness campaigns conducted to inform the taxpayers about timely tax payments have also contributed to this.

We have also taken massive steps for digitization in the last few years.

She said that the CBDT has also conducted awareness campaigns for the people to pay taxes. Campaigns to update ITR have also yielded better results.

Government upset due to continuous fall in LIC shares, doing this plan to increase value.

Life Insurance Corporation (LIC) was listed on the stock market on May 17 at Rs 872 per share.

In a significant move, the government had fixed the issue price of LIC’s shares at Rs 949 after an initial public offering (IPO), which got more than 3 times the subscription.

However, LIC shares have remained below the issue price since the day of listing.

The volatility in the stock of LIC continues. LIC’s stock has touched a low of Rs 708.70 and a high of Rs 920 so far.