City
Epaper

Direct Tax Collections (FY 2022-23) records growth at Rs 15.67 lakh cr

By IANS | Updated: February 11, 2023 14:20 IST

New Delhi, Feb 11 The provisional figures of Direct Tax collections up to February 10, continue to register ...

Open in App

New Delhi, Feb 11 The provisional figures of Direct Tax collections up to February 10, continue to register steady growth.

Direct Tax collections up to February 10 showed that gross collections are at Rs 15.67 lakh crore which is 24.09 per cent higher than the gross collections for the corresponding period of last year.

According to the Ministry of Finance, Direct Tax collection, net of refunds, stands at Rs 12.98 lakh crore which is 18.40 per cent higher than the net collections for the corresponding period of last year.

This collection is 91.39 per cent of the total Budget Estimates of Direct Taxes for F.Y. 2022-23 and 78.65 per cent of the Revised Estimates of Direct Taxes for FY 2022-23.

So far, as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 19.33 per cent, while that for PIT (including STT) is 29.63 per cent. After adjustment of refunds, the net growth in CIT collections is 15.84 per cent and that in PIT collections is 21.93 per cent (PIT only)/ 21.23 per cent (PIT including STT).

Refunds amounting to Rs 2.69 lakh crore have been issued during April 1, 2022 to February 10, 2023, which are 61.58 per cent higher than refunds issued during the same period in the preceding year, said the Ministry.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Manchester City F.C.Ministry Of FinanceIsraeli finance ministryFinance ministry of indiaPakistan economic affairs ministryPakistan ministry of economic affairsFederal ministries of financeMinistry financePakistan finance ministryWest bengal finance
Open in App

Related Stories

NationalFinancial Intelligence Unit Detects Rs 11,000 Crore Undisclosed Income in India in 2024, Says Finance Ministry

NationalTuhin Kanta Pandey Appointed As New Finance Secretary

NationalPradhan Mantri Jan Dhan Yojana: Total Deposits in PMJDY Accounts Stand at Rs 2,31,236 Crore

BusinessITR New Record: 7.28 Crore Income-Tax Returns Filed for AY25 Till July 31 2024, Up 7.5% YoY

BusinessGST Revenue Collection for April 2024 Highest Ever at Rs 2.10 Lakh Crore

International Realted Stories

InternationalWildfire rages across Israel, sparks national emergency as thousands flee

InternationalPakistan Human Rights Commission highlights decline in civic freedoms, deteriorating law and order

International4 UAE-based companies with India trade links sanctioned by US for trading Iran petroleum products 

InternationalUS: Three Indian-origin people found dead after Washington shooting

InternationalUS, Ukraine sign rare earth minerals deal