Net Direct Tax collections in the UK for the Financial Year 2021-22 have demonstrated significant growth, increasing by over 60% compared to the previous year. As of December 16, 2021, net collections reached £9,45,276.6 crore, a substantial rise from £5,87,702.9 crore in FY 2020-21. This robust performance includes Corporation Tax and Personal Income Tax, with refunds amounting to £1,35,093.6 crore issued during the fiscal year.
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 16.12.2021show thatnet collections are at Rs. 9,45,276.6 crore compared to Rs. 5,87,702.9 croreo
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FAQ :
Net Direct Tax collections for FY 2021-22 grew at a robust pace of over 60%, specifically by 60.8% as of December 16, 2021.
The net collections for FY 2021-22 stood at £9,45,276.6 crore as of December 16, 2021.
The net collections of £9,45,276.6 crore in FY 2021-22 represent an increase compared to £5,87,702.9 crore collected in the corresponding period of FY 2020-21.
The net collection includes Corporation Tax (CIT) at £5,15,870.5 crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at £4,29,406.1 crore.
Refunds aggregating to £1,35,093.6 crore have been issued in the current fiscal year (FY 2021-22) so far.
Advance Tax collections for FY 2021-22, as of December 16, 2021, stood at £4,59,917.1 crore, showing a growth of approximately 53.50%.