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 current financial year.
The net direct tax collection for the current financial year has so far grown by 17 per cent to reach Rs 13.73 lakh crore. Which is 83 per cent of the revised target for the full fiscal year. 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 current financial year.
The gross direct tax collections are 22.58 per cent, which is higher than the the corresponding period of last financial year, the Central Board of Direct Taxes (CBDT) said in a statement on Saturday. The growth in direct tax mop-up, which comprises personal income tax and corporate taxes
Refunds amounting to Rs 2.95 lakh crore have been issued from April 1, 2022, to March 10, 2023, which are 59.44 per cent higher than refunds issued during the same period in the previous fiscal year. Direct tax collection, net of refunds, stands at Rs 13.73 lakh crore which is 16.78 per cent higher than the net collections for the corresponding period of last financial year.
After adjustment of refunds, the net growth in corporate income tax collections is 13.62 per cent and that in personal income tax collections including STT (Securities Transaction Tax) is 20.06 per cent, the statement said.
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