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The Central Board of Direct Taxes (CBDT) said the net personal income and corporate taxes collection grew 74 per cent to Rs 5.70 lakh crore so far this fiscal, driven mainly by advance tax and TDS payments. as per the data, the mop up of net direct tax (which is arrived at after deducting refunds from gross collection) between April 1-September 22 was at Rs 5,70,568 crore, a 74.4 per cent growth over Rs 3.27 lakh crore collected in the same period last fiscal. It was 27 per cent growth over Rs 4.48 lakh crore collected in 2019-20.

The gross direct tax collection so far this fiscal stood at over Rs 6.45 lakh crore, a 47 per cent growth over Rs 4.39 lakh crore mopped up in the corresponding period of the preceding year. The gross collection was 16.75 per cent higher than Rs 5.53 lakh crore collected between April 1-September 22 of 2019-20 fiscal. While over Rs 2.53 lakh crore has been collected through advance tax, Tax Deducted at Source (TDS) mop-up was over Rs 3.19 lakh crore. Self-assessment tax worth Rs 41,739 crore, regular assessment tax of Rs 25,558 crore, dividend distribution tax of Rs 4,406 crore and tax under other minor heads of Rs 1,383 crore has been mopped up.

CBDT said ‘The cumulative advance tax collections for the first and second quarter of the FY 2021-22 stand at Rs 2,53,353 crore as on September 22, 2021, against advance tax collections of Rs 1,62,037 crore for the corresponding period of the immediately preceding financial year i.e 2020-21, showing a growth of 56 per cent’. The advance tax collection comprises corporation tax (CIT) at Rs 1.96 lakh crore and personal income tax (PIT) at Rs 56,389 crore. The gross CIT mop up was Rs 3.58 lakh crore and PIT was over Rs 2.86 lakh crore, while net CIT was at Rs 3.02 lakh crore and PIT was at Rs 2.67 lakh crore. Refunds amounting to Rs 75,111 crore have also been issued in the FY 2021-22 so far.