CBT reports 35.46 pc higher direct tax gross collection as compared to last year
Sep 09, 2022
New Delhi [India], September 9 : Direct Tax collections up to September 8, 2022 show that gross collections of the year are at Rs. 6.48 lakh crore, which is 35.46 per cent higher than the gross collections for last year, said a press release by Central Board of Direct Taxes on Friday.
The provisional figures of Direct Tax collections up to September 8, 2022, continue to register steady growth, added the press release.
Direct Tax collection, net of refunds, stood at Rs. 5.29 lakh crore which is 30.17 per cent higher than the net collections for last year. This collection is 37.24 per cent of the total Budget Estimates of Direct Taxes for F.Y. 2022-23, as per the statement.
Refunds amounting to Rs.1.19 lakh crore have been issued from April 1, 2022, to September 8, 2022, which are 65.29 per cent higher than refunds issued during the same period in the preceding 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 is 25.95 per cent while that for PIT (including STT) is 44.37 per cent.
After adjustment of refunds, the net growth in CIT collections is 32.73% and that in PIT collections (including STT) is 28.32 per cent.
