The Ministry of Finance has informed that it has recorded Rs 9.45 lakh crore as provisional figure of net Direct Tax collection for the financial year 2020-21.
Out of the net Direct Tax collections, Corporation Tax (CIT) stand at Rs. 4.57 lakh crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs 4.88 lakh crore.
The net Direct Tax collections represent 104.46 percent of the Revised Estimates of Rs 9.05 lakh crore of Direct Taxes for the F.Y. 2020-21.
Further, the Advance Tax collections for F.Y. 2020-21 stand at Rs 4.95 lakh crore which shows a growth of approximately 6.7 percent over the Advance Tax collections of the immediately preceding Financial Year of Rs 4.64 lakh crore.
Refunds amounting to Rs 2.61 lakh crore have been issued in the F.Y. 2020-21 as against refunds of Rs 1.83 lakh crore issued in the F.Y. 2019-20, marking an increase of approximately 42.1 percent over the preceding Financial Year.
However, the above figures are as yet provisional and subject to change pending final collation of data of collections.
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