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News INCOME TAX

  • Jun 16, 2022
  • Direct tax collections so far this fiscal rise 53.2% to Rs 2.58 lakh crore

    The net direct tax collections, which include income tax and corporate tax, reached Rs 2.58 lakh crore as of June 14 in financial year 2022-23 against Rs 1.86 lakh crore YoY, according to a CNBC-TV18 report, reigniting hopes of sustained economic recovery, despite inflationary concerns and the disruption caused by geopolitical tensions.

    The net direct tax collection has increased by around 53.2 percent from April 1 to June 14 over the year-ago period.

    The advance collection of corporate tax and personal income tax in the first quarter witnessed a healthy growth over last year, initial trends indicated.

    The government expects the advanced tax collection in the first quarter to grow around 50 to 60 percent over last year.