New Delhi, January 11
The country’s gross direct tax collection rose 24.58% to Rs 14.71 lakh crore till January 10 this fiscal, buoyed by an upsurge in personal income tax mop-up, the government data showed on Wednesday.
After adjusting refunds, net direct tax collection stood at Rs 12.31 lakh crore, 19.55% higher than the net collection for the corresponding period of last year.
The net collection is 86.68% of the total Budget Estimates of direct taxes for the current fiscal. The Budget had estimated direct tax collection at Rs 14.20 lakh crore this fiscal.
On gross basis, collection from corporate income tax (CIT) grew 19.72%, while that of personal income tax (PIT) increased 30.46%.
“The provisional figures of direct tax collection up to January 19, 2023 continue to register steady growth. Direct tax collection up to January 10 shows that gross collection is at Rs 14.71 lakh crore which is 24.58% higher than the gross collection for the corresponding period of last year,” the Central Board of Direct Taxes said.
Refunds amounting to Rs 2.40 lakh crore have been issued between April 1, 2022 and January 10, 2023, 58.74% higher than refunds issued during the same period last year. — PTI
Net collection 86.68% of Budget Estimates
- After adjusting refunds, net direct tax collection stood at Rs 12.31 lakh crore, 19.55% higher than the net collection for the corresponding period last year
- The net collection is 86.68% of the total Budget Estimates of direct taxes for the current fiscal. The Budget had estimated direct tax collection at Rs 14.20 lakh crore this fiscal
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