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Increase In Direct Tax Collections

Increase In Direct Tax Collections:

India’s direct tax collections in the first two and a half months (April – June) of 2021-22 stand at nearly Rs. 1.86 lakh crore, which is double the collections over the same period of last year that was affected by the national lockdown.

  • The collections last year over the same period were Rs. 92,762 crore.
  • Surge in Direct Tax Collections: It includes Corporation Tax collections of Rs. 74,356 crore and Personal Income Tax inflows, which include the Security Transaction Tax of Rs. 1.11 lakh crore.
  • The jump in the direct tax collections reflects healthy exports and a continuation of various industrial and construction activities.
  • It is expected that GDP (Gross Domestic Product) will record a double-digit expansion in Quarter 1 of 2021-22.