Direct Tax collection, net of refunds, stands at ₹12.98 lakh crore – 18.40% higher than net collections for the corresponding period of last year
New Delhi: India’s gross direct tax collection rose 24.09 per cent to ₹ ₹15.67 lakh crore till February 10, this fiscal, the government data showed.
Direct Tax collection, net of refunds, stands at ₹12.98 lakh crore which is 18.40 per cent higher than the net collections for the corresponding period of last year. This collection is 91.39 per cent of the total Budget Estimates of Direct Taxes for F.Y. 2022-23 and 78.65 per cent of the Revised Estimates of Direct Taxes for F.Y. 2022-23.
So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 19.33 per cent while that for PIT (including STT) is 29.63 per cent. After the adjustment of refunds, the net growth in CIT collections is 15.84 per cent and that in PIT collections is 21.93 per cent (PIT only)/ 21.23 per cent.
Refunds amounting to Rs. 2.69 lakh crore have been issued from 1st April 2022 to 10th February 2023, which are 61.58 per cent higher than refunds issued during the same period in the preceding year.
