Net direct tax collections double to Rs 1.85 trn in FY22 so far

Advance tax collections for FY22 stand at Rs 28,780 cr, which shows a growth of approximately 146%, says govt

The direct tax collections for FY22, as on June 15, 2021 show that net collections are at Rs 1.85 trillion as compared to Rs 92,762 crore over the corresponding period of the preceding year, representing an increase of 100.4% over the collections of the preceding year. The net direct tax collections include Corporation Tax (CIT) at Rs 74,356 crore (net of refund) and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs 1.11 trillion (net of refund), said Ministry of Finance on Wednesday.

The gross collection of direct taxes (before adjusting for refunds) for FY22 stands at Rs