economy

Advance tax collections rise 53% to ₹4.59 lakh crore so far in FY22: Govt

Advance tax collections rise 53% to ₹4.59 lakh crore so far in FY22: Govt

Advance tax collections for the current financial year (FY22) stood at ₹4.59 lakh crore as on 16 December, which shows a growth of approximately 53.5%, the ministry of finance said on Friday. Net direct tax collections for the same period have grown at a robust pace at more than 60% at ₹9.45 lakh crore, while refunds aggregating to ₹1.35 lakh crore have been issued in the current financial year. Meanwhile, net collections in FY22 have registered a growth of 40% over the corresponding period of last year. The gross collection of direct taxes for the FY22 stood at ₹10.8 lakh crore compared to ₹7.33 lakh crore in the corresponding period of the preceding financial year. The gross collection for the FY20 was ₹8.34 lakh crore and that for FY19 was ₹7.96 lakh crore in the corresponding period, finance ministry said in a statement. Download.

economy 2021-12-18 Livemint