Net income tax mop-up in FY22 at Rs 7.4 trn, Rajya Sabha informed

Budget makers are confident that the net tax collection's budgeted target (direct plus indirect) of Rs 15.45 trillion will be exceeded

The Centre’s net income tax revenue from April to December 7 stood at Rs 7.39 trillion, minister of state (MoS) for finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday.

This includes Rs 3.63 trillion of corporate taxes, Rs 3.61 trillion of personal income tax and Rs 15,375 crore of other income taxes, including securities transaction tax (STT). In a written reply, the MoS said net income tax collections in lockdown-hit FY21 were Rs 9.45 trillion. Collections during the pre-pandemic year (FY20) were Rs 10.51 trillion. In FY19, the mop up was Rs 11.38 trillion.

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