The centre mopped up Rs 16.61 lakh crore as direct tax, net of refunds, marking a growth of 17.63%, provisional data released on Monday said.
The collections are Rs 2.41 lakh crore or 16.97 % higher than budget estimates Rs 11,000 crore or 0.69% higher than the revised estimate.
The Budget Estimates (BE) for direct Tax revenue (net of refunds) in the Union Budget for FY 2022-23 were fixed at Rs.14.20 lakh crore which were later revised to Rs.16.50 lakh crore. The provisional Direct Tax collections (net of the refunds) have exceeded the BE by 16.97% and RE by 0.69 %.
Gross Direct Tax collections (provisional) for the Financial Year 2022-23 stood at Rs. 19.68 lakh crore, registering a growth of 20.33%.
The gross Corporate Tax collection (provisional) in FY 2022-23 is at Rs.10,04,118 crore and has shown a growth of 16.91% over the gross corporate tax collection of Rs.8,58,849 crore of the preceding year.
The gross Personal Income Tax collection (including STT) (provisional) in FY 2022-23 is at Rs.9,60,764 crore and has shown a growth of 24.23% over the gross Personal Income Tax collection (including STT) of Rs.7,73,389 crore of the preceding year.Refunds of Rs.3,07,352 crore have been issued in the FY 2022-23 showing an increase of 37.42 % over the refunds of Rs.2,23,658 crore issued in FY 2021-22.
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