Direct tax collections rise 24% year-on-year to Rs 14.71 lakh crore - New Delhi News
by IANS | Updated Jan 11, 2023
Direct tax collection, net of refunds, stood at Rs 12.31 lakh crore which is 19.55 per cent higher than the net collections for the corresponding period of last year.
This collection is 86.68 per cent of the total budget estimates of direct taxes for 2022-23.
Refunds amounting to Rs 2.40 lakh crore have been issued between April 1, 2022 and January 10, 2023, which are 58.74 per cent higher than refunds issued during the corresponding period of last year.
So far, as the growth rate for corporate income tax (CIT) and personal income tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT was 19.72 per cent while that for PIT (including STT) was 30.46 per cent.
- PM to inaugurate UP global investors' summit on Feb 10
- Zypp Electric raises $25 mn led by Gogoro, to expand EV fleet to 2 lakh
- Zoho introduces unified communications platform to help firms boost productivity
- UK's blue-chip shares index hits a fresh all-time high
- Inflation a concern and 25 bps policy rate hike expected: Experts
- India wearable market ships 100 mn units in 2022, boAt takes top spot
- Fundraising gets tougher, 2023 super challenging for startup founders: Report
- LIC subscribers can now access policy-related info, services on WhatsApp
- Airtel partners Cloud computing firm Vultr to empower Indian enterprises
- Gadkari unveils advanced drone air traffic management system 'Skye UTM'