Net direct tax collection reaches Rs 13.73 lakh cr

New Delhi: Net direct tax collection so far this fiscal grew by 17 percent to reach Rs 13.73 lakh crore, which is 83 percent of the revised target for the full financial year, said the Central Board of Direct Taxes (CBDT) on Saturday. The growth in direct tax mop-up, which comprises personal income tax and corporate taxes, was driven by PIT collections. On a gross basis, the collection grew 22.58 percent to Rs 16.68 lakh crore.

Refunds worth Rs 2.95 lakh cr have been issued from Apr 1, 2022 to March 10 this yr

Refunds amounting to Rs 2.95 lakh crore have been issued during April 1, 2022 to March 10, which is 59.44 percent higher than refunds issued during the same period in the preceding year. Direct tax collection, net of refunds, stands at Rs 13.73 lakh crore, which is 16.78 percent higher than the net collections for the corresponding period of last year. This collection is 96.67 percent of the total budget estimates and 83.19 percent of the total revised estimates of direct taxes for the financial year 2022-23, the CBDT said in a statement.

Net growth in CIT is 13.62% & STT is 20.06%

After adjustment of refunds, the net growth in CIT (Corporate Income Tax) collections is 13.62 percent and that in PIT (Personal Income Tax) collections including STT (Securities Transaction Tax) is 20.06 percent, it said.

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