Jun 18, 2022
Net direct tax mop-up rises 45% to over Rs 3.39 lakh cr till mid-June
Reflecting an uptick in economy, net direct tax collections between April and mid-June jumped 45 per cent to over Rs 3.39 lakh crore, the Income Tax department said on Friday.
The improved collections are mainly due to a 47 per cent growth in TDS mop-up and a 33 per cent rise in advance tax realisation for April-June quarter.
The net direct tax collection of over Rs 3.39 lakh crore included Corporation Tax (CIT) of over Rs 1.70 lakh crore and Personal Income Tax (PIT), including Security Transaction Tax (STT), of more than Rs 1.67 lakh crore.