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Direct Tax Collection: There has been an incredible enhance in direct tax collections within the present monetary 12 months 2021-22. According to the info launched by the Ministry of Finance, until March 16, 2022, the direct assortment has been Rs 13,63,038.3 crore. Whereas in 2020-21, there was a tax assortment of Rs 9,18,430.5 crore on this interval. That is, 48.41 % extra tax assortment has been seen within the present monetary 12 months. Whereas in 2019-20, tax assortment of Rs 9,56,550.3 crore was seen.
In the entire direct tax assortment, Rs 7,19,035 crore has been deposited as company tax, whereas private revenue tax and safety transaction tax collectively have collected Rs 6,40,588.3 crore. The authorities has acquired Rs 13.63 lakh crore as direct tax, whereas the federal government had earlier set a goal of Rs 11.08 lakh crore, which was later raised to Rs 12.50 lakh crore. Adding refunds, the tax assortment has been Rs 15.50 lakh crore as towards Rs 11.20 lakh crore within the earlier monetary 12 months.
In the entire assortment, Rs 8,36,838 crore has been deposited as company tax, then Rs 7,10,056 crore has been collected together with private revenue tax and safety transaction tax. The authorities has acquired Rs 13.63 lakh crore as direct tax.
Rs.6,62,896.3 crore has been acquired as Advance Tax in 2021-22, Rs.6,86,798.7 crore has been deposited as TDS, Rs.55,249.5 crore as Self-Assessment Tax; Rs 7,486.6 crore has been acquired as dividend distribution tax and Rs 3,542.1 crore by way of different taxes.
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