PANAJI: Sangeeta Singh, Chairman of the Central Board of Direct Taxes (CBDT), stated on Saturday that the number of income tax returns has grown in FY22 compared to the previous year.

Singh told the reporters that the number of income tax returns filed last fiscal year was 7.14 crore, up from 6.9 crore the year before, indicating a significant increase. "The base of taxpayers is growing, and amended returns are being filed." 

The CBDT is seeing an increase in tax collection, which normally occurs when a country's economic growth is on the rise, according to the chairman, who also said that "if economic activity are strong, purchases and sales would also be high." 

She pointed out that taxes cannot rise unless the economy is growing. "Secondly, the department is observing an increase in tax payments because of Prime Minister Narendra Modi's initiative and demand for a digital India," she added, adding that during the COVID-19 period, individuals began paying more digitally, "possibly leading to a change in people's views."

The attempt to provide information to taxpayers is also helping to raise awareness about the importance of paying taxes on time. "Over the years, we have also done a lot of large-scale digitalization," she added.  tax collection for FY22 is more than Rs 14 lakh crore, which is quite strong compared to FY20, the chairman said.

GST revenues up 44-pc at Rs 1.41-La Cr in May

Govt waives late fee for delayed GST filing under composition scheme

GST has not increased state tax collections: India Ratings