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Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 16th June, 2021
PRESS RELEASE
Net Direct Tax collections for the Financial Year 2021-22 have grown at over 100%
Advance Tax collections for F.Y. 2021-22 stand at Rs. 28,780crore which shows a growth of approximately 146%
Net Direct Tax collections for the F.Y. 2021-22 have grown at a robust pace despite the disruption caused by the COVID-19 pandemic on the economy
Refunds amounting to Rs. 30,731 crore have been issued in the F.Y. 2021-22
The figures of Direct Tax collections for the Financial Year 2021-22, as on 15.06.2021 show that net collections are at Rs.1,85,871crore compared to Rs. 92,762crore 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. 74,356crore (net of refund) and Personal Income Tax(PIT) including Security Transaction Tax(STT) at Rs. 1,11,043 crore (net of refund).
The Gross collection of Direct Taxes(before adjusting for refunds) for the F.Y. 2021-22 stands at Rs. 2,16,602crore compared to Rs. 1,37,825 crore in the corresponding period of the preceding year. This includes Corporation Tax(CIT) at Rs. 96,923crore and Personal Income Tax (PIT) including Security Transaction Tax(STT) at Rs. 1,19,197 crore. Minor head wise collection comprises Advance Tax of Rs. 28,780crore, Tax Deducted at Source of Rs.1,56,824 crore, Self-Assessment Tax of Rs. 15,343crore; Regular Assessment Tax of Rs. 14,079crore; Dividend Distribution Tax of Rs.1086crore and Tax under other minor heads of Rs. 491crore.
Despite extremely challenging initial months of the new Fiscal , the Advance Tax collections for the first quarter of the F.Y. 2021-22 stand at Rs. 28,780 croreagainst Advance Tax collections of Rs. 11,714 crore for the corresponding period of the immediately preceding Financial Year, showing a growth of approximately 146%.This comprises Corporation Tax(CIT) at Rs. 18,358crore and Personal Income Tax (PIT) at Rs. 10,422 crore. This amount is expected to increase as further information is received from Banks.
Refunds amounting to Rs. 30,731crore have also been issued in the F.Y. 2021-22.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 14th June, 2021
PRESS RELEASE
Relaxation in electronic filing of Income Tax Forms 15CA/15CB
As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance.
In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.gov.in, it has been decided that taxpayers can submit the aforesaid Forms in manual format to the authorized dealers till June 30th, 2021. Authorized dealers are advised to accept such Forms till June 30th, 2021 for the purpose of foreign remittances. A facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generation of the Document Identification Number.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT