Quick Summary
Provisional figures of Direct Tax collections for FY 2023-24 register steady growth upto 9th July 2023
The provisional figures of Direct Tax collections up to 9th July, 2023 continue to register steady growth. Direct Tax collections up to 9th July, 2023 show that gross collections are at Rs. 5.17 lakh crore which is 14.65% higher than the gross collections for the corresponding period of last year.
Direct Tax collection, net of refunds, stands at Rs. 4.75 lakh crore which is 15.87% higher than the net collections for the corresponding period of last year. This collection is 26.05% of the total Budget Estimates of Direct Taxes for F.Y. 2023-24.
Refunds amounting to Rs. 42,000 crore have been issued during 1st April, 2023 to 9th July 2023, which are 2.55% higher than refunds issued during the same period in the preceding year.
FAQ :
Direct tax collections have grown by 14.65% up to 9th July 2023 for FY 2023-24.
Gross direct tax collections reached Rs. 5.17 lakh crore up to 9th July 2023.
Net direct tax collections, after refunds, have increased by 15.87% compared to the corresponding period last year.
The current collection represents 26.05% of the total Budget Estimates for Direct Taxes for FY 2023-24.
Refunds amounting to Rs. 42,000 crore have been issued between 1st April 2023 and 9th July 2023.
Yes, refunds issued are 2.55% higher than those issued during the same period in the preceding year.
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