Saturday, April 1, 2023

Net direct tax collections reach Rs 13.73 lakh crore, 83% of FY23 revised estimate – Usky News

New Delhi: net direct tax collection So far this fiscal it has grown by 17 per cent to reach Rs 13.73 lakh crore, which is 83 per cent of the revised target for the full fiscal, the Central Board of Direct Taxes (CBDT) said.cbdt) said on Saturday.
Increase in direct tax mop-upWhich includes personal income tax and corporate tax, was handled by PIT Collection.
The collection on a gross basis increased by 22.58 per cent to Rs 16.68 lakh crore.
Refunds worth Rs 2.95 lakh crore have been issued during April 1, 2022 to March 10, 2023, which is 59.44 per cent higher than the refunds issued during the same period last year.
Direct tax collections, net of refunds, are Rs 13.73 lakh crore, an increase of 16.78 per cent over the net collections for the same period last year.
The CBDT said in a statement that the collection is 96.67 per cent of the total budget estimates and 83.19 per cent of the total revised estimates of direct taxes for the financial year 2022-23.
After adjusting for refunds, the net increase in CIT (Corporate Income Tax) collections is 13.62 per cent and in PIT (Personal Income Tax) collections including STT (Securities Transaction Tax) is 20.06 per cent.


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