Taxontips
No Result
View All Result
Friday, May 16, 2025
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 which shows a growth of approximately 53.50%

ADMIN by ADMIN
December 18, 2021
in Income Tax News
0
What is advance tax and who are liable to pay advance tax?
100
SHARES
1.3k
VIEWS
image_pdfPDFimage_printPrint

Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 crore as on 16.12.2021 which shows a growth of approximately 53.50%

Net Direct Tax collections for the F.Y. 2021-22 grown at robust pace at more than 60%

Refunds aggregating to Rs. 1,35,093.6 crore issued in the current fiscal

The figures of Direct Tax collections for the Financial Year 2021-22, as on 16.12.2021 show that net collections are at Rs. 9,45,276.6 crore compared to Rs. 5,87,702.9 crore over the corresponding period of the preceding financial year i.e FY 2020-21, representing an increase of 60.8%. The net collection (as on 16.12.2021) in FY 2021-22 has registered a growth of 40% over the corresponding period of FY 2019-20 when the net collection was Rs. 6,75,409.5 crore, and a growth of 40.93% over the corresponding period of FY 2018-19 when the net collection was Rs. 6,70,739.1 crore.

The Net Direct Tax collection of Rs. 9,45,276.6 crore (as on 16.12.2021) include Corporation Tax (CIT) at Rs. 5,15,870.5 crore (net of refund) and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs. 4,29,406.1 crore (net of refund).

The gross collection of Direct Taxes (before adjusting for refunds) for the F.Y. 2021-22 (as on 16.12.2021) stands at Rs. 10,80,370.2 crore compared to Rs. 7,33,715.2 crore in the corresponding period of the preceding financial year. The gross collection for the F.Y. 2019-20 was Rs. 8,34,398 crore and that for F.Y. 2018-19 was Rs. 7,96,342 crore in the corresponding period.

The gross collection of Rs. 10,80,370.2 crore includes Corporation Tax (CIT) at Rs. 6,05,652.6 crore and Personal Income Tax (PIT) including Security Transaction Tax(STT) at Rs. 4,74,717.6 crore. Minor head wise collection (as on 16.12.2021) comprises Advance Tax of Rs. 4,59,917.1 crore, Tax Deducted at Source of Rs.4,93,171.7 crore, Self-Assessment Tax of Rs. 74,336.2 crore; Regular Assessment Tax of Rs. 44,028.7 crore; Dividend Distribution Tax of Rs. 6,525.9 crore and Tax under other minor heads of Rs. 2390.6 crore.

The cumulative Advance Tax collections for the first, second and third quarter of the F.Y. 2021-22 stand at Rs. 4,59,917.1 crore as on 16.12.21, against Advance Tax collections of Rs. 2,99,620.5 crore for the corresponding period of the immediately preceding Financial Year i.e 2020-21, showing a growth of 53.5%(approx). Further, the cumulative Advance tax collection of Rs. 4,59,917.1 crore as on 16.12.2021 (FY 2021-22) shows a growth of 44.21% over the corresponding period in FY 2019-20 when the advance tax collection(cumulative) was Rs 3,18,929.4 crore and a growth of 49.76 % over the corresponding period in FY 2018-19 when the advance tax collection(cumulative) was Rs 3,07,096.3 crore.

The Advance tax figure of Rs 4,59,917.1 crore as on 16.12.2021 comprises Corporation Tax (CIT) at Rs. 3,49,045.4 crore and Personal Income Tax (PIT) at Rs. 1,10,871.7 crore. This amount is expected to increase as further information is awaited from Banks.

Refunds amounting to Rs. 1,35,093.6 crore have also been issued in the F.Y. 2021-22 so far.

 

To read more CLICK HERE.

 

You can book phone consultation/ assistance online with expert as mentioned below:

To book ITR filing with experts CLICK ME.

To book phone consultation with experts for any Income tax related matters CLICK ME.

To book consultation for Faceless Assessment with experts CLICK ME.

To book phone consultation with experts for GST related matters CLICK ME.

To book general phone consultation with expert CLICK ME.

 

Connect with us on: LinkedIn, Telegram, Instagram, Facebook and Youtube for regular Updates.

image_pdfPDFimage_printPrint
Tags: advance taxIncome tax updatestaxontips
Previous Post

CBDT introduces a scheme for faceless collection of information under section 135A of the I.T. Act in relation to section 133, 133B, 133C, 134, 135

Next Post

Delhi high court quashes reassessment cases initiated under section 148 after 01.04.2021 in 1346 cases [Read order]

Related Posts

Tatva Chintan Pharma Chem Limited IPO details and capital gain tax on selling IPO allotment | Capital gain on IPO
Case Laws

ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]

May 2, 2025
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?

April 1, 2025
Received mail from GSTN “Aggregate turnover being more than Rs. 5 Cr during FY 2019-20” What does this mean?
Income Tax News

Assessee receiving message for 80GGC donation for AY 2022-23 from Income tax department

January 29, 2025
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

Guidance note 2 issued for Vivad se vishwas Scheme, 2024 [Read circular]

January 1, 2025
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

Due date extended for filing belated, revised return and Vivad se vishwas declaration

December 31, 2024
Due date for Tax audit for A.Y. 2019-20 extended from 30th September to 31st October
Income Tax News

Extension of due date for furnishing return of income from 30.11.2024 to 15.12.2024

November 30, 2024
Next Post
GSTR 3B can now be recitified – Landmark Judgement by Delhi High court

Delhi high court quashes reassessment cases initiated under section 148 after 01.04.2021 in 1346 cases [Read order]

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
  • Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
  • No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
  • Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]

Recent Comments

  • k.salam on Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • Brendan Gleeson on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • Kovac Ryker on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • Hailey Bradwell on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • ADMIN on Submit response to confirm/ revise the refund claim – Why are you getting this mail and how to get refund

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    
  • GSTR 9/ 9C extended : AGAIN

    GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning

    6537 shares
    Share 2615 Tweet 1634
  • How to pay Membership and COP fees of ICAI for 2020-21 |

    6444 shares
    Share 2578 Tweet 1611
  • Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods

    5897 shares
    Share 2359 Tweet 1474
  • Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020

    4855 shares
    Share 1942 Tweet 1214
  • SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type

    4082 shares
    Share 1633 Tweet 1021

Recent Notification

Compliance due dates for June, 2020 | Compliance calendar for June, 2020 | 20+ compliances

Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws

May 8, 2025
Tatva Chintan Pharma Chem Limited IPO details and capital gain tax on selling IPO allotment | Capital gain on IPO

ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]

May 2, 2025

RSS Taxontips

  • Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
  • Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
  • No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
  • Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]
  • Statutory Audit of Trade Receivables in Indian Companies [Company law]
  • Statutory Compliance Calendar for February 2025 | Income tax, GST and various other laws
  • Budget 2025 updates | Income tax and GST updates
  • Assessee receiving message for 80GGC donation for AY 2022-23 from Income tax department
  • Statutory Audit of Inventories for Indian Companies [Company Law]

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Q & A
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!