Direct Tax Collection: India’s Direct Tax Collection Stands At Rs 13,63,649 Crore, Registering A Growth Of 25.9% – Explained!

Gross direct tax assortment (earlier than adjusting for refunds) stood at Rs. 13,63,649 crore as in comparison with Rs. 10,83,150 crore within the corresponding interval of the earlier fiscal 12 months recording a development of 25.90 %, authorities information confirmed.

The internet assortment of direct taxes for the fiscal 12 months 2022-23 registered a development of virtually 19.81%. Meanwhile, the anticipated tax assortment for FY 2022-23 stood at Rs. 5,21,302 crore recording a development of 12.83 %.

“Refunds amounting to Rs. 2,27,896 crore have been issued in the current fiscal year. Direct tax collection figures for fiscal year 2022-23, as at 17.12.2022 show that the net collections are Rs. 11 ,35,754 crore as compared to 9,47,959 crore in the corresponding period of the previous fiscal year i.e. fiscal year 2021-22, representing an increase of 19.81%.Corporation Tax (CIT) ) at Rs 6,06,679 crore (net of refund) and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs 5,26,477 crore (net of refund)” , signifies the assertion.

The gross assortment of Rs. 13,63,649 crore consists of company tax (CIT) at Rs. 7,25,036 crore and Personal Income Tax (PIT), together with Securities Transaction Tax (STT), at Rs. 6,35,920 crores.

The lesser head good levy contains advance taxes of Rs. 5,21,302 crores; Tax deducted at supply of Rs. 6,44,761 crores; Self evaluation tax of Rs. 1,40,105 crores; Regular evaluation tax of Rs. 46,244 crores; and Taxes underneath different lesser heads of Rs. 11,237 crores.

[Disclaimer: This story was automatically generated by a computer program and was not created or edited by Journalpur Staff. Publisher: Journalpur.com]

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