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Net Direct Tax collections up 60.8% YoY
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SME Times News Bureau | 17 Dec, 2021
Accelerated economic recovery, as well as easing Covid restrictions,
have lifted the Centre's net direct tax collections for FY22 (till
December 16) by over 60 per cent on a year-on-year basis.
According
to the Ministry of Finance, net collections stood at Rs 945,276.6 crore
compared to Rs 587,702.9 crore over the corresponding period of the
preceding financial year, representing an increase of 60.8 per cent.
"The
net collection in FY2021-22 has registered a growth of 40 per cent over
the corresponding period of FY 2019-20 when the net collection was Rs
675,409.5 crore...."
"The net direct tax collection of Rs
945,276.6 crore include corporation tax (CIT) at Rs 515,870.5 crore (net
of refund) and personal income tax (PIT) including security transaction
tax (STT) at Rs 429,406.1 crore (net of refund)."
Besides, the
gross collection of direct taxes (before adjusting for refunds) for the
FY 2021-22 (as on December 16) stood at Rs 10,80,370.2 crore compared to
Rs 7,33,715.2 crore in the corresponding period of the preceding
financial year.
"The gross collection for the FY 2019-20 was Rs
834,398 crore and that for FY 2018-19 was Rs 796,342 crore in the
corresponding period."
Furthermore, the ministry said that
cumulative Advance Tax collections for the first, second and third
quarter of the FY22 stood at Rs 4,59,917.1 crore (as on December 16)
against Rs 299,620.5 crore for the corresponding period of the
immediately preceding of FY21, showing a growth of 53.5 per cent
(approx).
"Refunds amounting to Rs 135,093.6 crore have also been issued in the FY 2021-22 so far."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
Japanese
Yen |
55.05 |
53.40 |
As on 12 Oct, 2024 |
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