48.41% jump in tax collection in the current financial year, 13.63 lakh crore direct tax collection


Direct Tax Collection: There has been a tremendous increase in direct tax collections in the current financial year 2021-22. According to the data released by the Ministry of Finance, till March 16, 2022, the direct collection has been Rs 13,63,038.3 crore. Whereas in 2020-21, there was a tax collection of Rs 9,18,430.5 crore in this period. That is, 48.41 percent more tax collection has been seen in the current financial year. Whereas in 2019-20, tax collection of Rs 9,56,550.3 crore was seen.

In the total direct tax collection, Rs 7,19,035 crore has been deposited as corporate tax, while personal income tax and security transaction tax together have collected Rs 6,40,588.3 crore. The government has received Rs 13.63 lakh crore as direct tax, whereas the government had earlier set a target of Rs 11.08 lakh crore, which was later raised to Rs 12.50 lakh crore. Adding refunds, the tax collection has been Rs 15.50 lakh crore as against Rs 11.20 lakh crore in the previous financial year.

In the total collection, Rs 8,36,838 crore has been deposited as corporate tax, then Rs 7,10,056 crore has been collected including personal income tax and security transaction tax. The government has received Rs 13.63 lakh crore as direct tax.

Rs.6,62,896.3 crore has been received 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 received as dividend distribution tax and Rs 3,542.1 crore through other taxes.

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