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HomeBusinessCorporate Tax Collection: Corporate tax collection up 34 percent in April-July

Corporate Tax Collection: Corporate tax collection up 34 percent in April-July

Company Tax Assortment Grows: The Revenue Tax Division stated that within the first 4 months of the present monetary yr, company tax assortment has elevated by 34 p.c on a year-on-year foundation. Company tax assortment through the monetary yr 2021-22 was Rs 7.23 lakh crore, which is 58 p.c greater than that of 2020-21. If in contrast with the gathering of the monetary yr 2018-19 earlier than the Corona epidemic, the gathering in 2021-22 was 9 p.c extra.

The Revenue Tax Division tweeted, “Corporate tax collection in FY 2022-23 (up to 31st July 2022) was 34 percent higher than the same period of FY 2021-22.” Nevertheless, the Revenue Tax Division didn’t say this within the tweet. How a lot was the tax assortment? The division stated that these figures present that simplification of tax regime and decrease charges have elevated collections.

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