Gross Direct Tax Collections: 24.58 percent more tax collection, 12.31 lakh crores came to the exchequer – न्यूज़लीड India

Gross Direct Tax Collections: 24.58 percent more tax collection, 12.31 lakh crores came to the exchequer

Gross Direct Tax Collections: 24.58 percent more tax collection, 12.31 lakh crores came to the exchequer


Gross direct tax collection increased by 24.58 percent in the financial year 2022-23. A total tax collection of Rs 14.71 lakh crore has been done. Net direct tax collection after deducting refunds stood at Rs 12.31 lakh crore.

India

oi-Jyoti Bhaskar

Published: Thursday, January 12, 2023, 2:26 [IST]

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Gross Direct Tax Collections

Gross Direct Tax Collections have increased by 24.58 percent in the financial year 2022-23. A total tax collection of Rs 14.71 lakh crore has been done this year. The country’s gross direct tax collection grew by 24.58 per cent to Rs 14.71 lakh crore in the current financial year (FY23) till January 10, according to government data.

According to the statement of the Ministry of Finance, the provisional figures of direct tax collections till January 10, 2023 are registering a steady increase. The net direct tax collection after adjusting refunds stood at Rs 12.31 lakh crore, a 19 per cent increase over the same period last year.

Gross Direct Tax Collections

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The gross tax collection increased by 25 per cent as compared to the previous financial year. With this, the Finance Ministry said that the net collection is 86.68 percent of the total budget estimate of direct taxes for the financial year 2022-23.

In terms of gross tax collections, collections from corporate income tax (CIT) grew by 19.72 per cent, while personal income tax (PIT) grew by 30.46 per cent. The Finance Ministry said on Wednesday that refunds worth Rs 2.40 lakh crore were issued from April 1, 2022 to January 10, 2023. This is 58.74 per cent higher than the refunds issued during the same period last year.

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english summary

Gross Direct Tax Collections finance ministry corporate income tax personal IT

Story first published: Thursday, January 12, 2023, 2:26 [IST]

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