Sunday, March 26, 2023

At ₹16.7 lakh crore, direct tax collections see a growth of 22.6% – Usky News

New Delhi: Direct tax collections grew by 22.6% to Rs 16.7 lakh crore during the fiscal till March 10. 13.7 lakh crore, which is about 16.8% more than a year ago. An official statement said that refunds have increased by over 59% to nearly Rs 3 lakh crore during the financial year.
The collections so far stand at 96.7% of the budget estimates, which were revised upwards. Mop-up is 83. 2% of the revised estimates for 2022-23, the government said.
On a gross basis, there has been an 18% increase in corporation tax collections, while personal income tax collections have increased by 27.6%. Tax collections have been buoyant so far, which is reflected in GST collections as well. The government is expecting higher collections than the budget this year, which will also help make up for some of the shortfall in disinvestment.


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