What drove income tax collections growth in the pandemic year

  • April 13, 2022
  • CA Chandan Agarwal's Office

The overall collections are about 17% higher than in 2020-2021, driven by a 22% growth in direct taxes comprising corporate and income tax

India’s total tax revenues in the financial year that ended on 31 March touched an estimated 27.17 trillion, surpassing the revised estimates for that year presented in the 1 February budget by 3.1 trillion. The overall collections are about 17% higher than in 2020-2021, driven by a 22% growth in direct taxes comprising corporate and income tax.  What has driven direct tax collections, and is the pace of growth durable or a flash in the pan?

Source: https://www.livemint.com/economy/what-drove-income-tax-collections-growth-in-the-pandemic-year-11649587116513.html
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