Direct tax collections at Rs 9.45 lakh crore in FY21, exceeds revised estimates: FinMin

Sumary of Direct tax collections at Rs 9.45 lakh crore in FY21, exceeds revised estimates: FinMin:

• India direct tax collections for financial year 2020-21 (FY21) were at Rs 9.45 lakh crore, according to a statement released by the Ministry of Finance on Friday..
• The net direct tax collections represent 104.46 per cent of the revised estimates of Rs 9.05 lakh crore of direct taxes for the FY21, the statement said..
• The net direct tax collections include Corporation Tax (CIT) at Rs 4.57 lakh crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs 4.88 lakh crore..
• “The net direct tax collections for the FY 2020-21 have shown an upswing, despite the inherent challenges brought on by the COVID-19 pandemic on the economy,”.
• The government said that despite an extremely challenging year, the advance tax collections for FY21 stand at Rs 4.95 lakh crore, depicting a year-on-year growth of approximately 6.7 per cent…

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From The Indian Express - 09/04/2021