New Delhi: In the year of the Corona epidemic, there has been a huge increase in the revenue collection of the government from income tax. According to the Central Board of Direct Taxes (CBDT), the direct tax collection of 2020-21 is 5 percent more than the previous financial year. According to the CBDT data, corporate income from the government's total direct tax collection stood at Rs 4.57 lakh crore. While revenue of Rs 4.88 lakh crore was received from the common people in the form of personal income tax. It also includes securities transaction tax.
While giving the information, CBDT has told that the government had estimated income from income tax for 9.0-21 lakh rupees for 2020-21. While Rs 9.45 lakh crore has been deposited in his treasury. Thus the direct tax collection of the government is 104.46% of the budget estimate. Before adjusting the income tax refund, the government has received a total revenue of 4.95 lakh crore rupees as advance tax. Along with this, tax collection of TDS was Rs 5.45 lakh crore whereas, on the basis of self-assessment, Rs 1.07 lakh crore was collected.
The Finance Ministry said in a statement that even in such a difficult time, the government received so much advance tax, which is 6.7 percent more than the previous financial year. Explain that in the financial year 2020-21, the government has also refunded income tax refund of Rs 2.61 lakh crore. This is 42.1 percent more than the Rs 1.83 lakh crore in 2019-20.
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