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    Net direct tax collections for FY 2021-22 rise over 74% to Rs 5.70 crore

    Net direct tax collections for FY 2021-22 rise over 74% to Rs 5.70 crore

    Net direct tax collections for FY 2021-22 rise over 74% to Rs 5.70 crore
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    By CNBCTV18.com  IST (Updated)

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    The figures of direct tax collections for the financial year 2021-22, as of September 22 show that net collections are at Rs 5,70,568 crore, representing an increase of 74.4 percent, the Ministry of Finance said in a statement today.

    The figures of direct tax collections for the financial year 2021-22, as of September 22 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 i.e FY 2020-21, representing an increase of 74.4 percent, Ministry of Finance said in a statement today.
    "The net collection (as of September 22) in FY 2021-22 has registered a growth of 27 percent over FY 2019-20 when the net collection was Rs 4,48,976 crore," it said.
    The net direct tax collection of Rs 5,70,568 crore 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), Ministry of Finance said.
    "The gross collection of direct taxes (before adjusting for refunds) for the FY 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 percent over collections of FY 2020-21. The gross collection in FY 2021-22 has registered a growth of 16.75 percent over FY 2019-20 when the gross collection was Rs 5,53,063 crore," it added.
    This confirms the CNBC-TV18 newsbreak. People in the know earlier told CNBC-TV18 that as of September 22, the net direct tax mop-up would stand at over 50 percent of the full fiscal year target. Starting April and till September 22 of FY22, the net direct tax collections would be at Rs 5.70 lakh crore against a collection of Rs 3.30 lakh crore during the same period last year, sources had said.
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