The income tax department said corporate tax collections in the first four months of the current fiscal have risen 34 per cent over the year-ago period. Corporate tax collections stood at 7.23 lakh crore during the year 2021 -- 22 and a 58 per cent increase over 2020 -- 21 mop. The collections of FY 2021 -- 22 are higher by more than 9 per cent compared to the FY 2018 -- 19 pre-COVID period, according to the I-T department. The positive trend of growth continues, but for the overall impact of the COVID 19 pandemic during FY 2020 - 21, when corporate tax collections took a temporary hit. It added that the simplified tax regime with low rates and no exemptions has lived up to its promise.