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Government’s net direct tax collections grow over 100% in 2021-22.

The Edge Media by The Edge Media
4 years ago
in Main Story, Stock Exchange
Reading Time: 1 min read
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Government’s net direct tax collections grow over 100% in 2021-22.

IC:(money control)

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The Centre’s net direct tax collector for the financial year 2021-22 has more than doubled to Rs.1.85 lakh crore , an official statement showed on Wednesday. 

In a release, the ministry of finance informed that net direct tax collections so far in the fiscal have grown at 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. 

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 approx 146 per cent. 

Meanwhile, the Centre has issued refunds amounting to Rs.30,731 crore in FY22 till now. 

 

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