Gross direct tax collections rise 30% in 2022-23, net direct tax collections up 23%

by IANS |

New Delhi, Sep 18 (IANS) Gross direct tax collections till 2022-23 as on September 17 stood at Rs 8.36 lakh crore, witnessing a growth of 30 per cent over collections of corresponding period of last year.

Net direct tax collections stood at Rs 7.01 lakh crore for the current fiscal till September 17, showing a 23 per cent rise over the corresponding period of last year.

Cumulative advance tax collections were at Rs 2.95 lakh crore till September 17 in 2022-23, a growth of 17 per cent over the corresponding period of last year, according to the data released by the Finance Ministry.

Refunds amounting to Rs 1,35,556 crore were issued up to September 17, up by 83 per cent over last year.

Fast processing of income tax returns (ITRs), with almost 93 per cent of duly verified ITRs were processed till Saturday.

Faster issue of refunds were initiated, which saw an almost 468 per cent increase in the number of refunds issued in 2022-23, the statement said.

Latest News
People know who's 'uniting' country and who's dividing it: Bommai on 'Bharat Jodo' Thu, Sep 29, 2022, 04:46 PM
Yediyurappa hits out at Siddaramaiah for demanding ban on RSS Thu, Sep 29, 2022, 04:44 PM
New Zealand opens national wine centre to boost industry Thu, Sep 29, 2022, 04:43 PM
No budget surplus for at least 3 years: Aus Treasurer Thu, Sep 29, 2022, 04:42 PM
Had to pitch the ball in the right places and it worked well: Arshdeep Singh Thu, Sep 29, 2022, 04:08 PM
TRP scam spooks again: ED books 16 for money laundering; 'exonerates' Republic TV Thu, Sep 29, 2022, 03:55 PM
Cong prez poll: MLAs from MP to reach Delhi to back Digvijaya Thu, Sep 29, 2022, 03:32 PM
Kerala HC asks PFI to deposit Rs 5.20 cr for damage during bandh Thu, Sep 29, 2022, 03:30 PM
Yemeni govt receives UN proposal for 6-month truce extension Thu, Sep 29, 2022, 03:04 PM
S.Korean Prez, Kamala Harris share concern over N.Korea Thu, Sep 29, 2022, 03:00 PM
First NCW chairperson Jayanti Patnaik passes away Thu, Sep 29, 2022, 02:49 PM
Nadda in Odisha to address workers, visit Jagannath temple Thu, Sep 29, 2022, 02:39 PM
Surat will soon be known as 'Electric Vehicle city', says PM Thu, Sep 29, 2022, 02:18 PM
Digvijaya to file nomination for Cong prez polls Thu, Sep 29, 2022, 02:17 PM
Microsoft to discontinue SwiftKey on iOS devices on Oct 5 Thu, Sep 29, 2022, 01:37 PM