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  • Direct Tax Collection Data India | Direct Tax Collection Doubled To Over Rs 1.85 Lakh Crore Amid Coronavirus India Crisis

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In terms of tax collection, the journey so far in the financial year 2021-22 has been good. According to the Income Tax Department, the net direct tax collection stood at Rs 1.85 lakh crore, as against Rs 92,762 crore in the year-ago period. In this sense, there was a growth of 100% in the collection.

Personal income tax collection at Rs 1.11 lakh crore
According to the report, the net direct tax collection between 1 April-15 June stood at Rs 1 lakh 85 thousand 871 crore. This figure is after adjusting for refunds. Also, it includes Corporate Income Tax (CIT) collection of Rs 74,356 crore and Personal Income Tax of Rs 1.11 lakh crore, which includes Security Transaction Tax (STT).

About 31 thousand crore refunds were done in the financial year
The Central Board of Direct Taxes (CBDT) said in its statement that till June 15, refunds of Rs 30,731 crore have been made in this financial year. If we look at the gross collection of direct tax, then the figure has crossed Rs 2.16 lakh crore. Which was Rs 1.37 lakh crore in the same period last year.

146% growth in advance tax collection
Apart from this, advance tax collection in the first quarter of 2021-22 stood at Rs 28,780 crore as against Rs 11,714 crore last year. That is, a growth of 146% has been seen in the collection.

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