Gross Direct Tax collections for the Financial Year (FY) 2021-22 register a growth of 47%
The figures of Direct Tax collections for the Financial Year 2021-22, as on 22nd September, 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 i.e. FY 2020-21, representing an increase of 74.4%. The net collection (as on 22.09.2021) in FY 2021-22 has registered a growth of 27% over FY 2019-20 when the net collection was Rs. 4,48,976 crore.
The Net Direct Tax collection of Rs. 5,70,568 crore include Corporate Income 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 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% over collections of FY 2020-21.
The Gross collection of Rs. 6,45,679 crore includes Corporation Tax (CIT) at Rs. 3,58,806 crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs. 2,86,873 crore. Minor head wise collection comprises Advance Tax of Rs. 2,53,353 crore, Tax Deducted at Source of Rs. 3,19,239 crore, Self-Assessment Tax of Rs. 41,739 crore, Regular Assessment Tax of Rs. 25,558 crore, Dividend Distribution Tax of Rs. 4,406 crore and Tax under other minor heads of Rs. 1383 crore.
Refunds aggregating to Rs. 75,111 crore have also been issued in the FY 2021-22 so far.