2021-22 net direct tax revenues grow 100% so far

Net direct tax collections through June 2021-22 have shown growth

The net direct tax collections through June 15 during the current budget, i.e. 2021-22, were Rs.185.871 billion, an astonishing 100 percent more than 92.762 billion 21).

According to figures released by the Treasury Department, net direct tax revenue includes corporate income tax of $ 74,356 billion.

The gross direct tax collection (before adjustment for refunds) for 2021-22 is Rs 2.16.602 billion compared to Rs 1.37.825 billion for the corresponding period last year.

This includes corporate tax of Rs 96.923 billion and income tax including STT of Rs 1.19.197 billion.

The ministry said that despite the extremely challenging early months of the new budget, upfront tax collections for the first quarter of 2021-22 stand at Rs 28,780 billion, up from pre-tax collections of Rs 11,714 billion, up around 146 percent.

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