Gross direct tax collections for current fiscal year upto March 10 stood at Rs. 16.68 lakh crore, higher by 22.58% over gross collections for corresponding period last fiscal year, official data released on Saturday said.
Collection net of refunds, was Rs. 13.73 lakh crore, which was 16.78% higher than net collections for the same period last year.
“This collection is 96.67% of the total Budget Estimates and 83.19% of the Total Revised Estimates of Direct Taxes for F.Y. 2022-23,” Central Board of Direct Taxes (CBDT) said in a statement.
Gross Corporate Income Tax (CIT) grew at 18.08% while Personal Income Tax (PIT) including Security Transaction Tax (STT) was up 27.57%.
After adjustment of refunds, the net growth in CIT collections is 13.62% and that in PIT collections is 20.06%.
The government has issued refunds amounting to Rs.2.95 lakh crore till March 10, which are 59.44% higher than refunds issued during the same period in the preceding year.