Odisha Registers Over 52% Growth In Direct Tax Collection In FY 2021-22

Bhubaneswar: Odisha has registered a growth of 52.50% in direct tax collections in financial year (FY) 2021-22 over FY 2020-21.

This was revealed by JB Mohapatra, chairman, Central Board of Direct Taxes (CBDT), Ministry of Finance at a Presser in Bhubaneswar on Tuesday.

Stating that the Odisha region not only achieved the target in budget collection but also exceeded it, he said the region achieved net direct collection of Rs 15,481 crore in FY 2021-22 against a target of Rs 14,000 crore, resulting in achievement of 110.57%.

The collection for FY 2021-22 marked an increase of 52.50% over that of FY 2020-21 and 15.41% over FY 2019-20. This includes gross collection of Rs 18,055 crore and refunds of Rs 2,574 crore resulting in net collection of Rs 15,481 crore.

TDS collections in FY 2021-22 were Rs 6,594 crore marking a growth of 36.09% over FY 2020-21. Over 12.95 lakh ITRs were filed during FY 2021-22 compared to 10.44 lakh ITRs in FY 2020-21.

The growth in the region has largely been driven by the mining sector which has contributed to almost 53% of the overall revenue of the region.

Mohapatra said direct tax collections for FY 2021-22 show that net direct tax collections are at Rs 14,09,640.83 crore compared to Rs 9,45,934.34 crore over the collections of FY 2020-21, representing an increase of 49.02%.

The net collection in FY 2021-22 has registered a growth of 34.16% over the collection of FY 2019-20 when the net collection was Rs 10,50,680.56 crore.

The gross direct tax collection (before adjusting for refunds) for the FY 2021-22 stands at Rs 16,34,454.95 crore compared to Rs 12,31,270.52 crore in the FY 2020-21, registering a growth of 32.75%. The gross collection in FY 2021-22 has registered a growth of 32.42% over the collections of FY 2019-20 when the gross collection was Rs 12,34,258.42 crore.