Advertisement

Home / Business / Net direct tax collections double to over Rs 1.85 lakh crore this fiscal

Net direct tax collections double to over Rs 1.85 lakh crore this fiscal

Experts say the Vivad se Vishwas scheme could have boosted the collections
Representational image.
Representational image.
Shutterstock

Our Special Correspondent   |   New Delhi   |   Published 17.06.21, 03:39 AM

Net direct tax collections have doubled to over Rs 1.85 lakh crore so far this fiscal, buoyed by personal income tax and advance tax payments, the I-T department said on Wednesday. Tax experts said the Vivad se Vishwas scheme could have boosted the collections.

Mop-up of net direct tax (which is arrived at after deducting refunds from gross collection) between April 1-June 15 was at Rs 1,85,871 crore, a 100.4 per cent growth over 

Rs 92,762 crore collected in the same period last fiscal, the Central Board of Direct Taxes said in a statement. Refunds of Rs 30,731 crore have been issued in the current fiscal.

Neeru Ahuja, partner at Deloitte India, feels taxpayers have taken advantage of the Vivad se Vishwas scheme and settled their old disputes and litigations with the income tax department along with depositing their tax dues.

Icra chief economist Aditi Nayar said the jump in the direct tax collections reflects healthy exports and a continuation of various industrial and construction activities, given the lower stringency of the staggered regional lockdowns in 2021 versus the nationwide lockdown in 2020. 



Advertisement
Advertisement
Advertisement
 
 
 
Copyright © 2020 The Telegraph. All rights reserved.