Net direct tax collections for 2021-22 grow over 74 pc
Sep 24, 2021
New Delhi [India], September 25 : The gross direct tax collections for 2021-22 have registered a growth of 47 per cent and the net direct tax collections for the fiscal have grown at over 74 per cent.
A Finance Ministry release said that the figures of direct tax collections for 2021-22, as of September 22, 2021, show that net collections are at Rs 5,70,568 crore compared to Rs. 3,27,174 crore in the corresponding period of the preceding financial year, representing an increase of 74.4 per cent.
"The net collection (as on 22.09.2021) in FY 2021-22 has registered a growth of 27 per cent over 2019-20 when the net collection was Rs. 4,48,976 crore," a Finance Ministry release said.
The net direct tax collection of Rs. 5,70,568 crore (as on 22.09.2021) include Corporation Tax (CIT) at Rs. 3,02,975 crore (net of refund) and Personal Income Tax (PIT) including Security Transaction Tax(STT) at Rs. 2,67,593 crore (net of refund).
The gross collection of direct taxes (before adjusting for refunds) for 2021-22 stands at Rs. 6,45,679 crore compared to Rs 4,39,242 crore in the corresponding period of the preceding financial year, registering a growth of 47 per cent over collections of 2020-21. The gross collection (as of September 22) in 2021-22 has registered a growth of 16.75 per cent over 2019-20 when the gross collection was Rs 5,53,063 crore.
The release said that refunds amounting to Rs. 75,111 crore have also been issued in FY 2021-22 so far.
