The figures of Direct Tax collections for the Financial Year 2021-22, as on16 March show that net collections are at Rs 13,63,038.3 crore compared to Rs. 9,18,430.5 crore over the corresponding period of the preceding financial year 2020-21, representing an increase of 48.41%.

The net collection (as of 16 March) in FY 2021-22 has registered a growth of 42.50% over the corresponding period of FY 2019-20 when the net collection was Rs. 9,56,550.3 crore, and a growth of 34.96% over the corresponding period of FY 2018-19 when the net collection was Rs 10,09,982.9 crore.

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The Net Direct Tax collection of Rs. 13,63,038.3 crore (as on 16 March) include Corporation Tax (CIT) at Rs 7,19,035.0 crore (net of refund) and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs 6,40,588.3 crore (net of refund).

Collection of Rs 13,63,038.3 crore as of 16 March is as against a target of Rs 11.08 lakh crore (BE) as revised to Rs 12.50 lakh crore (RE).

The gross collection of Direct Taxes (before adjusting for refunds) for the FY 2021-22 (as of 16 March) stands at Rs 15,50,364.2 crore compared to Rs 11,20,638.6 crore in the corresponding period of the preceding financial year. The gross collection for the FY 2019-20 was Rs 11,34,706.3 crore and that for FY 2018-19 was Rs 11,68,048.7 crore in the corresponding period.

The gross collection of Rs 15,50,364.2 crore includes Corporation Tax (CIT) at Rs 8,36,838.2 crore and Personal Income Tax (PIT) including Security Transaction Tax(STT) at Rs 7,10,056.8 crore.

Minor head wise collection (as of 16 March), comprises Advance Tax of Rs 6,62,896.3 crore, Tax Deducted at Source of Rs 6,86,798.7 crore, Self-Assessment Tax of Rs 1,34,391.1 crore; Regular Assessment Tax of Rs 55,249.5 crore; Dividend Distribution Tax of Rs 7,486.6 crore and Tax under other minor heads of Rs 3,542.1 crore.

The cumulative Advance Tax collections for the FY 2021-22 stand at Rs 6,62,896.3 crore as of 16.03.22, against Advance Tax collections of Rs 4,70,984.4 crore for the corresponding period of the immediately preceding Financial Year 2020-21, showing a growth of 40.75% (approx).

Further, the cumulative Advance tax collection of Rs 6,62,896.3 crore as of 16 March (FY 2021-22) shows a growth of 50.56% over the corresponding period in FY 2019-20 when the advance tax collection(cumulative) was Rs 4,40,281.4 crore and a growth of 30.82 % over the corresponding period in FY 2018-19 when the advance collection(cumulative) was Rs 5,06,714.2 crore.

The Advance tax figure of Rs 6,62,896.3 crore as on 16 March comprises Corporation Tax (CIT) at Rs 4,84,451.8 crore and Personal Income Tax (PIT) at Rs 1,78,441.1 crore. This amount is expected to increase as further information is awaited from Banks. Refunds amounting to Rs 1,87,325.9 crore have also been issued in FY 2021-22 so far.