Tax refunds amounting to Rs 2.95 lakh crore have been issued throughout April 1, 2022, to March 10, 2023.
Growth charge for company revenue tax is eighteen.08 per cent, whereas that for PIT (together with STT) is 27.57 per cent
Net direct tax assortment up to now within the present monetary yr 2022-23 grew 17 per cent to hit Rs 13.73 lakh crore, which is 83 per cent of the revised goal for the complete fiscal, the Central Board of Direct Taxes (CBDT) stated on Saturday. The development in direct tax assortment, which includes private revenue tax (PIT) and company taxes, was pushed by PIT collections.
“The provisional figures of direct tax collections as much as March 10, 2023, proceed to register regular development. Direct tax collections as much as March 10, 2023, present that gross collections are at Rs 16.68 lakh crore, which is 22.58 per cent greater than the gross collections for the corresponding interval of final yr,” the CBDT said in a statement.
It added that direct tax collection, net of refunds, stands at Rs 13.73 lakh crore, which is 16.78 per cent higher than the net collections for the corresponding period of last year. This collection is 96.67 per cent of the total Budget Estimates and 83.19 per cent of the total revised estimates of direct taxes for FY2022-23.”
The development charge for company revenue tax (CIT) is eighteen.08 per cent, whereas that for PIT (together with STT) is 27.57 per cent. After adjustment of refunds, the online development in CIT collections is 13.62 per cent and that in PIT collections is 20.73 per cent (PIT solely)/ 20.06 per cent (PIT together with STT).
Refunds amounting to Rs 2.95 lakh crore have been issued throughout April 1, 2022, to March 10, 2023, that are 59.44 per cent greater than refunds issued throughout the identical interval within the previous yr.
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