new Delhi: The month of March is very important for the country and for all other regions. Recently a good news has come, which is going to benefit the country a lot. Let us tell you that the IT department has collected the highest tax till date. Central Board of Direct Taxes (CBDT) chairman JB Mohapatra has said that there has been a 48 percent increase in direct tax collections in the country in the current financial year. In this, the data of Advance Tax Collections has helped. Know about this commendable work of IT department….
Let us tell you that there has been an increase of 41 percent in advance tax payment in the current financial year. Giving information about this, Mohapatra said that the net direct tax collection till date has been Rs 13.63 lakh crore. Let us tell you that this is 48 percent more than the same period a year ago.
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He further informed that the net collection on an annual basis is 48.4 per cent higher than the corresponding period of 2020-21. It is 42.5% higher than 2019-20 and 35% higher than 2018-19. Mohapatra said, “This is Rs 2.5 lakh crore more than the previous highest figure. This is the highest figure of income tax collection in the history of the department.
For information, let us tell you that tax collection indicates economic recovery, and it tells about the continuous economic revival in the economy affected by the corona virus epidemic. According to the official statement, the net direct tax collection in the current financial year till March 16, 2022 stood at Rs 13.63 lakh crore. It may be noted that in the same period of 2020-21 a year ago, it was Rs 9.18 lakh crore. But the year 2021-2022, the IT department has collected the highest tax till date.
Net Direct Tax collections for FY 2021- 22 as on 16.03.22 at Rs. 13.63 lakh crore grow at over 48% over collections of corresponding period in preceding yr.
Cumulative Advance Tax collections as on 16.03.22 at Rs. 6.63 lakh crore grow at 40.75% over the same period in preceding yr. pic.twitter.com/ssLlYnljAl— Income Tax India (@IncomeTaxIndia) March 17, 2022
Before the Corona epidemic, the tax collection was 9.56 lakh crores. The net direct tax collection in the current financial year is 35 per cent higher as compared to Rs 9.56 lakh crore in pre-pandemic 2019-20. This category includes tax on personal income, tax on profits to companies, wealth tax and inheritance tax, and gift tax. Advance tax collection increased by 40.75 per cent to Rs 6.62 lakh crore. The last date for depositing its fourth installment was March 15. In this way, maximum tax has been collected in this financial year.