new Delhi: Income tax The department has made the “highest” collection in its history, CBDT chairman JB Mohapatra said on Thursday, adding that direct tax collections have grown by over 48 per cent in the current financial year, which is a 41 per cent increase in advance tax payments.
He said that as on date the net collection number is Rs 13.63 lakh crore as against Rs 11.18 lakh crore in 2018-19, Rs 10.28 lakh crore in 2019-20 and Rs 9.24 lakh crore in 2020-21.
“Year-on-year net collections today are 48.4 per cent as compared to 2020-21, higher than 2019-20 by 42.5 per cent and 35 per cent higher than 2018-19. In the block of last four years, net collection numbers are highest,” The head of the Central Board of Direct Taxes (CBDT) said.
“This exceeds the previous high of Rs 2.5 lakh crore. This is the highest number of income tax collection So far in the history of the department,” he told PTI.
CBDT formulates policy for Income Tax Department.
“If you look at the gross numbers, it is Rs 15.50 lakh crore today which is 38.3 per cent higher in 2020-21, 36.6 per cent higher in 2019-20, 32.7 per cent higher than 2108-19. We have ever had 12.79 lakh crore Did not enter a gross collection of more than Rs. This year, we have entered a gross collection of Rs 15 lakh, which is also a historic high for the department,” he said.
Mohapatra said that the number of tax collections in all the cases is the highest ever in the history of the department.
The CBDT said in a statement that in the financial year beginning April 1, 2021, the net direct tax collection till March 16, 2022 stood at Rs 13.63 lakh crore, as against Rs 9.18 lakh crore in the same period a year ago.
The net collection in direct taxes, which is made up of income tax on personal income, corporation tax on profits of companies, wealth tax, inheritance tax and gift tax, is 35 per cent higher than the collection of Rs 9.56 lakh in the current fiscal. crore in the pre-pandemic year of 2019-20 (April 2019 to March 2020).
The advance tax collection, the fourth installment of which was due on March 15, increased to Rs 6.62 lakh crore, which is 40.75 per cent, with a total refund of Rs 1.87 lakh crore issued in the current financial year, the statement said.
About 53 per cent of all direct tax collection was from corporate tax, while 47 per cent came from personal income tax, which included securities transaction tax (STT) on shares.
He said that as on date the net collection number is Rs 13.63 lakh crore as against Rs 11.18 lakh crore in 2018-19, Rs 10.28 lakh crore in 2019-20 and Rs 9.24 lakh crore in 2020-21.
“Year-on-year net collections today are 48.4 per cent as compared to 2020-21, higher than 2019-20 by 42.5 per cent and 35 per cent higher than 2018-19. In the block of last four years, net collection numbers are highest,” The head of the Central Board of Direct Taxes (CBDT) said.
“This exceeds the previous high of Rs 2.5 lakh crore. This is the highest number of income tax collection So far in the history of the department,” he told PTI.
CBDT formulates policy for Income Tax Department.
“If you look at the gross numbers, it is Rs 15.50 lakh crore today which is 38.3 per cent higher in 2020-21, 36.6 per cent higher in 2019-20, 32.7 per cent higher than 2108-19. We have ever had 12.79 lakh crore Did not enter a gross collection of more than Rs. This year, we have entered a gross collection of Rs 15 lakh, which is also a historic high for the department,” he said.
Mohapatra said that the number of tax collections in all the cases is the highest ever in the history of the department.
The CBDT said in a statement that in the financial year beginning April 1, 2021, the net direct tax collection till March 16, 2022 stood at Rs 13.63 lakh crore, as against Rs 9.18 lakh crore in the same period a year ago.
The net collection in direct taxes, which is made up of income tax on personal income, corporation tax on profits of companies, wealth tax, inheritance tax and gift tax, is 35 per cent higher than the collection of Rs 9.56 lakh in the current fiscal. crore in the pre-pandemic year of 2019-20 (April 2019 to March 2020).
The advance tax collection, the fourth installment of which was due on March 15, increased to Rs 6.62 lakh crore, which is 40.75 per cent, with a total refund of Rs 1.87 lakh crore issued in the current financial year, the statement said.
About 53 per cent of all direct tax collection was from corporate tax, while 47 per cent came from personal income tax, which included securities transaction tax (STT) on shares.