Direct tax collections up 24% YoY to Rs 14.71 lakh crore
The direct tax collection, net of refunds, was Rs 12.31 lakh crore, which is 19.55 percent higher than the net collections for the corresponding period of last year.
This collection is 86.68 percent of the total direct tax budget estimates for 2022-23.
Refunds of Rs 2.40 lakh crore have been issued between April 1, 2022 and January 10, 2023, which is 58.74 percent higher than the refunds issued during the corresponding period of last year.
As for the growth rate for corporate income tax (CIT) and personal income tax (PIT) in terms of gross receipts, the growth rate for CIT was 19.72 percent, while that for PIT (including STT) was 30.46 percent. cent.
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