New Delhi: Direct tax collections stood at Rs 16.68 lakh crore till March 10, 2023, government data showed, which is 22.58 per cent higher than the gross collection for the same period last year. Direct tax collections, net of refunds, are Rs 13.73 lakh crore, an increase of 16.78 per cent over the net collections for the same period last year.
According to the Central Board of Direct Taxes, Department of Revenue, this collection is 96.67 per cent of the total budget estimates and 83.19 per cent of the total revised estimates of direct taxes for the financial year 2022-23. As per the Income Tax Department, as far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) is concerned in terms of gross revenue collection, the growth rate for CIT is 18.08 per cent and for PIT (including STT) is 27.57 per cent. Is. After adjusting for refunds, the net increase in CIT collection is 13.62 per cent and in PIT collection is 20.73 per cent (PIT only)/20.06 per cent (PIT including STT). According to government data, refunds amounting to Rs 2.95 lakh crore have been issued during April 1, 2022 to March 10, 2023, which is 59.44 per cent higher than the same period last year.
