NEW DELHI: Gross direct tax collections up to January 10, 2023, rose 24.6% year-on-year to Rs 14.71 lakh crore, per data from the Central Board of Direct Taxes (CBDT).
Net direct tax collectionstands at `12.31 lakh crore, which is 19.55% higher than the net collections for the corresponding period of last year. This collection is 86.68% of the Rs 14.2 lakh crore Budget estimates of direct taxes for FY23.
During the period, corporate taxes grew 19.72% while for personal income taxes (including STT) grew 30.46%. After the adjustment of refunds, net growth in corporate tax collections is 18.33% and that in personal income tax collection is 21.64% (20.97% including STT). Refunds amounting to Rs 2.40 lakh crore have been issued during April 1, 2022, to January 10, 2023, which are 58.74% higher than refunds issued during the same period in the preceding year.