Direct Tax Collections Rise 48.4% for FY22


The Ministry of Finance has informed that the Direct Tax collections for the FY 22, as on 16th March, 2022, have been recorded at Rs 13,63,038.3 crore compared to Rs 9,18,430.5 crore over the corresponding period of the preceding FY 21. It represents an increase of 48.41%.

The Net Direct Tax collection of Rs 13,63,038.3 crore include Corporation Tax (CIT) at Rs 7,19,035.0 crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs 6,40,588.3 crore.

The gross collection of Direct Taxes for the F.Y. 2021-22 on such date stands at Rs 15,50,364.2 crore compared to Rs 11,20,638.6 crore in the corresponding period of the preceding FY 21. It includes CIT at Rs 8,36,838.2 crore and PIT including STT at Rs 7,10,056.8 crore.

The cumulative Advance Tax collections for the FY 22 stand at Rs 6,62,896.3 crore on such date, shows a growth of 40.75% (approx) against Rs 4,70,984.4 crore for the corresponding period of the FY 21. It comprises CIT at Rs 4,84,451.8 crore and PIT at Rs 1,78,441.1 crore.

Further, other heads comprise Tax Deducted at Source of Rs 6,86,798.7 crore, Self-Assessment Tax of Rs 1,34,391.1 crore, Regular Assessment Tax of Rs 55,249.5 crore, Dividend Distribution Tax of Rs 7,486.6 crore and Tax under other minor heads of Rs 3,542.1 crore.

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