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Jun 17, 2021
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Net direct tax mop up doubles to more than Rs 1.85 lakh cr so far this fiscal
In signs of economy reflating after a devastating second wave of Covid-19, net income and corporate tax collections so far this fiscal doubled to over Rs 1.85 lakh crore buoyed by advance tax and TDS payments.
Mop up of net direct tax (which is arrived at after deducting refunds from gross collection) between April 1-June 15 was at Rs 1,85,871 crore, a 100.4 per cent growth over Rs 92,762 crore collected in the same period last fiscal, the Central Board of Direct Taxes (CBDT) said in a statement.
Refunds amounting to Rs 30,731 crore have been issued in the current fiscal.
The gross direct tax collection so far this fiscal stands at over Rs 2.16 lakh crore, a 57 per cent growth over Rs 1.37 lakh crore mopped up in the corresponding period of the preceding year.
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