Net Direct Tax collections have grown at a robust pace despite the disruption caused by the COVID-19 pandemic on the economy this financial year. Finance Ministry said that Net Direct Tax collections have increased over hundred per cent in this fiscal year in comparison to the corresponding period of last financial year.
The Ministry said that figures of Direct Tax collections for this financial year show that net collections are at one lakh 85 thousand 871 crore rupees compared to 92 thousand 762 crore rupees over the corresponding period of the preceding year.
Finance Ministry said that the gross collection of Direct Taxes for this financial year stands at two lakh 16 thousand 602 crore rupees compared to one lakh 37 thousand 825 crore rupees in the corresponding period of the preceding year.
It said, advance Tax collections for this financial year stand at 28 thousand 780 crore which shows a growth of approximately 146 percent over the corresponding period of the preceding year. It said, refunds amounting to 30 thousand 731 crore have been issued in this financial year so far.