Net Direct Tax Doubles To More Than Rs 1.85 Lakh Crore So Far This Fiscal Year Despite COVID-19 Pandemic

New Delhi, Jun 16:The web direct tax assortment has doubled to over Rs 1.85 lakh crore up to now this fiscal, primarily pushed by private earnings tax and advance tax mop up, the I-T division mentioned on Wednesday.

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The web direct tax assortment additionally contains company earnings tax (CIT) assortment at Rs 74,356 crore and Personal Income Tax, together with Security Transaction Tax (STT) at over Rs 1.11 lakh crore. New Income Tax E-Filing Portal To Roll Out From June 7; Know Benefits and Features.

The web direct tax collections (after adjusting refunds) between April 1-June 15 stood at Rs 1,85,871 crore, in comparison with Rs 92,762 crore over the corresponding interval of the previous 12 months, representing a rise of 100.4 per cent over the collections of the previous 12 months, the Central Board of Direct Taxes (CBDT) mentioned in an announcement. Refunds amounting to Rs 30,731 crore have been issued in present fiscal. New Income Tax Website Faces Technical Glitches, Nirmala Sitharaman Highlights Issues With Infosys and Nandan Nilekani.

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The gross assortment of direct taxes for this fiscal stood at over Rs 2.16 lakh crore, in comparison with Rs 1.37 lakh crore within the corresponding interval of the previous 12 months. The gross company earnings tax (CIT) mop up stood at Rs 96,923 crore and private earnings tax (PIT) stood at over Rs 1.19 lakh crore. CAIT Lauds G7 Decision to Force Amazon, Facebook, Google Pay Tax Where Services Sold.

While Advance Tax mop up stood at Rs 28,780 crore, Tax Deducted at Source was at Rs 1,56,824 crore. Self-Assessment Tax stood at Rs 15,343 crore and Regular Assessment Tax at Rs 14,079 crore. No GST on Black Fungus Drug, Tax Rates Slashed for Several Items Needed in Fight Against COVID-19.

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‘Despite extraordinarily difficult preliminary months of the brand new fiscal, the Advance Tax collections for the primary quarter of the FY 2021-22 stand at Rs 28,780 crore towards Advance Tax collections of Rs 11,714 crore for the corresponding interval of the instantly previous Financial Year, exhibiting a progress of roughly 146 per cent,’ the CBDT mentioned.

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