Government’s net direct tax collections grows over 100% in 2021-22
In a release, the ministry of finance informed that net direct tax collections so far in this fiscal have grown a robust pace despite disruptions caused by the Covid-19 pandemic on the economy.
“The figures of direct tax collections for the financial Year 2021-22, as on June 15 show that net collections are at Rs 1,85,871 crore compared to Rs 92,762 crore over the corresponding period of the preceding year, representing an increase of 100.4 per cent rise over the collections of the preceding year,” the statement said.
Net direct tax collections include corporate tax at Rs 74,356 crore and personal income tax including security transaction tax of Rs 1,11,043 crore.
For the first quarter, advance tax collections stood at Rs 28,780 crore against that of Rs 11,714 crore for the corresponding period of the immediately preceding financial year, showing a growth of approximately 146 per cent.
Meanwhile, the Centre has issued refunds amounting to Rs 30,731 crore in FY22 till now.