The growth in direct tax mop-up, which comprises personal income tax and corporate taxes, was driven by Personal Income Tax (PIT) collections.
India’s net direct tax collection so far this fiscal grew 17 per cent to reach Rs 13.73 lakh crore, which is 83 per cent of the revised target for the full financial year, the Central Board of Direct Taxes (CBDT) said on Saturday.
Refunds amounting to Rs 2.95 lakh crore have been issued during April 1, 2022 to March 10, 2023, which are 59.44 per cent higher than refunds issued during the same period in the preceding year.
Direct tax collection, net of refunds, came in at Rs 13.73 lakh crore which is 16.78 per cent higher than the net collections for the corresponding period of last year.
The growth in direct tax mop-up, which comprises personal income tax and corporate taxes, was driven by Personal Income Tax (PIT) collections.
