Last Updated: August 13, 2022, 12:35 IST
The company tax collections of FY2021-22 are larger by over 9 per cent.
Corporate tax collections throughout 2021-22 stood at Rs 7.23 lakh crore, a 58 per cent progress over 2020-21 mop-up
The revenue tax division on Friday stated company tax collections within the first 4 months of the present fiscal have grown 34 per cent over the year-ago interval. During 2021-22 fiscal, company tax collections stood at Rs 7.23 lakh crore, a 58 per cent progress over 2020-21 mop up.
Even when in comparison with collections of FY 2018-19 (pre-COVID interval), the collections of FY 2021-22 are larger by over 9 per cent, the I-T division tweeted. “The corporate tax collections during FY 2022-23 (till 31st July, 2022) register a robust growth of 34 per cent over the corporate tax collections in the corresponding period of FY 2021-22,” it stated with out giving absolutely the figures.
The constructive pattern of progress continues, however for the general influence of the COVID-19 pandemic throughout FY 2020-21, when the company tax collections took a brief hit. “This indicates that the simplified tax regime with low rates and no exemptions has lived up to its promise,” it added.
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