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
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FAQ :
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.