New Delhi, August 14 (Bureau) The corporate tax collections during the financial year 22-23 (till July 31) have registered 34 per cent growth over the corresponding period last fiscal, Income Tax Department said on Friday.
In a series of tweets, the I-T Department saidthe positive trend of growth continued, but due to the overall impact of the Covid-19 pandemic during FY 2020-21, the corporate tax collections took a temporary hit.”This indicates that the simplified tax regime with low rates and no exemptions has lived up to its promise,” the Department said.