Direct tax collections have seen a significant increase of 24.09% for the financial year 2022-23, reaching Rs 15.67 lakh crore by February 10, 2023. Net collections, after accounting for refunds, are up by 18.40% to Rs 12.98 lakh crore. This strong performance means current collections have already met over 91% of the initial budget estimates for the fiscal year.
Direct Tax Collections for F.Y. 2022-23 at ₹15.67 lakh crore - 24.09% higher than gross collections for corresponding period of last year as on 10.02.2023
Direct Tax collection, net of refunds, stands at ₹12.98 lakh crore - 18.40% higher than net collections for corresponding period of last year
The provisional figures of Direct Tax collections up to 10thFebruary, 2023 continue to register steady growth. Direct Tax collections up to 10thFebruary, 2023 show that gross collections are at
As of February 10, 2023, the gross direct tax collection stands at Rs 15.67 lakh crore.
Gross direct tax collections have grown by 24.09% compared to the corresponding period of the previous year.
Net direct tax collections, after the adjustment of refunds, are Rs 12.98 lakh crore, showing an 18.40% increase.
The gross revenue collection growth rate for CIT is 19.33%, and for PIT (including STT) it is 29.63%.
Refunds issued between April 1, 2022, and February 10, 2023, have increased by 61.58% compared to the same period in the preceding year, amounting to Rs 2.69 lakh crore.
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.