Income Tax

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• Jan 02, 2023
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Corporate tax collections exceeded 3 per cent of the GDP after a gap of two years in 2021-22, reflecting overall improvement in profitability of India Inc propelled by increase in demand for goods and services.

However, the corporate tax collection is yet to surpass its five-year high of 3.51 per cent of GDP recorded in 2018-19.


In actual terms, the net corporate tax collection in 2021-22 stood at Rs 7.12 lakh crore. The Gross Domestic Product (GDP) at current market price was Rs 236.64 lakh crore. The percentage of net corporate tax to GDP worked out to be 3.01 per cent.

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