New Delhi: India’s net direct tax collection for the financial year 2021-22 has shown a growth of over 48.4 per cent. The figures of direct tax collections for the financial year 2021-22, as on 16.03.2022 show that net collections are at Rs 13,63,038.3 crore as compared to Rs 9,18,430.5 crore over the last corresponding period, representing an increase of 48.41 per cent, said Finance Ministry in a statement.

The net collection as on 16.3.2022 in FY 2021-22 has registered a growth of 42.50 per cent over the corresponding period of FY 2019-20 when the net collection was Rs 9,56,550.3 crore, and a growth of 34.96 per cent over the corresponding period of FY 2018-19 when the net collection was Rs 10,09,982.9 crore, said the Ministry.

The net direct tax collection of Rs 13,63,038.3 crore as on March 16, 2022 include corporation tax (CIT) Rs 7,19,035.0 crore (net of refund) and personal income tax (PIT) including security transaction tax (STT) at Rs 6,40,588.3 crore (net of refund). The collection of Rs 13,63,038.3 crore as on 16.3.2022 is as against a target of Rs 11.08 lakh crore (BE) as revised to Rs 12.50 lakh crore (RE), said the Ministry, adding that refunds amounting to Rs 1,87,325.9 crore have also been issued in the FY 2021-22 so far. /BI/