Govt's net tax collection rises 86% to Rs 5.57 lakh cr in Q1

The government's total tax collection in the April-June quarter grew about to 86 percent to more than Rs 5.57 lakh crore, Parliament was informed on Monday.

Out of the total amount, the collection of net direct tax stood at Rs 2.46 lakh crore, and of indirect tax was at Rs 3.11 lakh crore.

''The net direct tax collection in the 1st quarter of FY 2021-2022 is Rs 2,46,519.82 crore as against Rs 1,17,783.87 crore during the same period of previous FY 2020-21 representing a growth of 109.3 percent,'' Minister of State for Finance Pankaj Chaudhary said in a written reply to Lok Sabha.

The net indirect tax collection in the first quarter of FY 2021-2022 was Rs 3,11,398 crore as against Rs 1,82,862 crore during the same period a year ago, representing a growth of 70.3 percent.

Replying to another question, Chaudhary said the Income Tax Department takes appropriate action under relevant laws against tax evaders.

Such action under direct tax laws includes searches, surveys, inquiries, assessment of income, levy of tax, interest, penalties, and filing of prosecution complaints in criminal courts, wherever applicable.

Further, more than 107 prosecution complaints have been filed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

As on May 31, 2021, assessment orders under the Act have been passed in 166 cases, wherein demand of Rs 8,216 crore has been raised.

Besides, the undisclosed income of about Rs 8,465 crore has been brought to tax, and a penalty of Rs 1,294 crore has been levied in HSBC cases. Undisclosed income of about Rs 11,010 crore has been detected in ICIJ (International Consortium of Investigative Journalists) cases.

In Panama Papers and Paradise Papers leaks cases, undisclosed credits of Rs 20,078 crore and Rs 246 crore, respectively, have been detected.