NEW DELHI: The gross direct tax collection increased by 35.46% on year-on-year basis to Rs 6.48 lakh crore till September 8 in the financial year 2022-23, provisional figures from finance ministry showed on Friday.
The direct tax collection, net of refunds, stood at Rs 5.29 lakh crore, 30.17 % higher than the net collections for corresponding period of last year. This is 37.24% of the total Budget Estimates of direct taxes, said the release.
“Refunds of Rs 1.19 lakh crore have been issued during April 1, 2022, to September 8, 2022, which are 65.29% higher than refunds issued during the same period in the preceding year,” it added.
The growth rate for corporate income tax (CIT) and personal income tax (PIT) in terms of gross revenue collections stood at 25.95% and 44.37% (including security transaction tax), respectively. After refunds, net growth in CIT collections is 32.73% and that of PIT collections (including STT) is 28.32%.