Net direct tax revenue rises to 68%

Net direct tax revenue rises to 68%

Team Ambitiousbaba and AB are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “Net direct tax revenue rises to 68%

Rs.6.92 lakh crore of net direct tax revenue has collected till November 2023

The net direct tax collection raised around 68 per cent during April 1 to November 23 to more than Rs 6.92 lakh crore as per the Minister of State for Finance.

Figures of tax collection:

The numbers of the Net Direct Tax Collection for the FY- 2021-22 as on 23.11.2021 are at Rs 6,92,833.6 crores which indicating a growth of 67.93 per cent and 27.29 per cent on the amount of collected tax for the same period for FY2020-21 and FY 2019-20.

The collection of direct tax between April 1 – November 23 in 2020-21 and 2019-20 financial was over Rs 4.12 lakh crore and over Rs 5.44 lakh crore respectively.

The gross direct tax collection as on November 23 is standing at over Rs 8.15 lakh crore which is a 48.11 growth over the collections in the same period of time in last fiscal.

The gross GST collection in the current financial year of April 2021 to March 2022 after the Covid-19 eruption is indicating an increasing trend.

The gross GST collection for full 2020-21 ended March 2021 was over Rs 11.36 lakh crore which was the equivalent in the current fiscal till October resisted at Rs 8.10 lakh crore.

Question & Answer:

Q1. What amount of direct tax collected during the period of April 1 to November 23?

Ans. Rs.6.92 lakh crore

Q2. Who collects direct tax in India?

Ans. Central Board of Direct Taxes (CBDT) under Department of Revenue, Ministry of Finance

Q3. Who is the current chairperson of CBDT?

Ans. Jagannath Bidyadhar Mahapatra

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