The good news is that the Indian economy is struggling with the second wave of corona. According to figures released by the government on Wednesday, India’s net direct tax collections have increased by more than Rs 1.85 lakh crore so far this fiscal. 92,762 crore during the same period last fiscal.
The tax department said Q1 FY22’s advance tax collections increased by 146%. pic.twitter.com/jpzAwrRg3s
– Bloomberg Quint (lo Bloomberg Quint) June 16, 2021
Pre-tax collections rose 146 per cent to Rs 28,780 crore in the June quarter from Rs 30,731 crore in the current financial year. If we talk about net direct tax collection, the corporation tax is Rs 73,365 crore, the personal tax and security tax together is Rs 1,111,043 crore.
The ministry said in its statement, “The beginning of this financial year may be difficult for a few months, but the advance tax collection is Rs 28,780 crore, which is an increase of 146% over the previous year.