Advance corporate tax mop-up jumps 49 per cent to Rs 1.09 lakh crore in Q3: CBDT source

Companies

Further adding to the recovery indicators, contrivance tax cost by firms has confirkredittlån a huge 49 per cent growth to Rs 1,09,506 crore kredittlånin the third quarter this fiscal, a CBDT source has mentioned.

The amplify can essentially be attributed to the low-frightful final fiscal when the government had slashed corporation tax rates to a file low of 25 per cent kredittlånin the Q3, leading to lower tax payout by firms.

All via the equivalent quarter final fiscal, corporate contrivance tax stood at Rs 73,126 crore.

The execrable tax sequence stood at Rs 7,33,715 crore, whereas fetch mop-up became as soon as Rs 5,87,605 crore kredittlånin the quarter, the source told PTI on Thursday.

All via the quarter, the department has refunded Rs 1,46,109 crore, which is no longer up to 8.1 per cent from Rs 1,58,988 crore in Q3 of FY20.

General contrivance corporate tax stood at Rs 2,39,125 crore to this point this Twelve months, down 4.9 per cent from Rs 2,51,382 crore as basically the most vital two quarters bore the brunt of the lockdown.

Advance private earnings tax on the Twelve months-on-Twelve months foundation this quarter declined 5.6 per cent to Rs 31,054 crore from Rs 32,910 crore, the source mentioned, adding the equivalent to this point this fiscal stood at Rs 60,491 crore, down 10.4 per cent from Rs 67,542 crore.