New Delhi, Mar 11 (PTI) Net direct tax collection so far this fiscal has increased by 17 per cent to 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. ) said Saturday.
Growth in direct tax mop-up, which includes personal income tax and corporate taxes, was driven by PIT collections.
On an aggregate basis, the collections grew by 22.58 percent to Rs 16.68 lakh crore.
From April 1, 2022 to March 10, 2023 Rs. 2.95 lakh crore in refunds, which is 59.44 per cent higher than refunds issued during the same period last year.
Direct tax collections, net of refunds, stood at Rs 13.73 lakh crore, up 16.78 per cent over the same period last year.
This collection is 96.67 per cent of the total budget estimates for the financial year 2022-23 and 83.19 per cent of the total revised estimate of direct taxes, CBDT said in a statement.
After adjusting for refunds, the net growth in CIT (Corporate Income Tax) collections was 13.62 percent and PIT (Personal Income Tax) collections including STD (Securities Transaction Tax) was 20.06 percent. PTI JD HVA