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Central Board of Direct Taxes Chairperson Sangeeta Singh said on Saturday that there has been an increase in the number of income tax returns in FY22 as compared to the previous financial year. He said that in the last financial year, the number of income tax returns stood at 7.14 crore, which was 6.9 crore in the previous financial year.
Sangeeta Singh said that there has been an increase in the number of taxpayers filing Aadhaar and amended returns. The board is seeing an increase in tax collections, which usually happens when the country is showing an upward trend in economic growth. The CBDT chairman said that if the economic activities are increasing, then there will be an increase in buying and selling. As long as the economy doesn’t move upwards, there cannot be an increase in taxes.
The CBDT Chairman termed the increase in the number of Income Tax Returns as an effect of Prime Minister Narendra Modi’s initiative and call about Digital India. He said that during the COVID-19 period, people have started paying more digitally, which is probably changing people’s mind.
The tax collection for FY 2022 is over Rs 14 lakh crore, which is quite good as compared to the FY 2020 collection. He said that outreach programs are organized by the CBDT through the Principal Chief Commissioners to make people aware about the payment of taxes. In this sequence, initiatives like Updated Returns are also getting good response.