Tribune News Service
New Delhi, September 9
Direct tax collection rose by 35.46% to Rs 6.48 lakh crore in the current fiscal up to September 8, reflecting an uptick in the economy.
The direct tax mop-up, net of refunds, stands at Rs 5.29 lakh crore which is 30.17% higher than the net collection for the corresponding period of last year, according to an official statement. This collection is 37.24% of the total Budget Estimates of Direct Taxes for 2022-23, it said.
Refunds amounting to Rs 1.19 lakh crore have been issued from April 1 to September 8, 2022, which are 65.29% higher than refunds issued during the same period in the preceding year, it said.
So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collection is concerned, the growth rate for CIT is 25.95% while that for PIT (including STT) is 44.37%. After adjustment of refunds, the net growth in CIT collection is 32.73% and that in PIT collection (including STT) is 28.32%.
37.24% of Budget Estimates
- Direct tax collection, net of refunds, stands at Rs 5.29 lakh crore, 30.17% higher than the net collection for the corresponding period of last year
- This collection is 37.24% of the total Budget Estimates of Direct Taxes for the current fiscal
- Refunds amounting to Rs 1.19 lakh crore have been issued from April 1 to September 8, 2022, which are 65.29% higher than refunds issued during the same period in the preceding year
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