The Ministry of Finance informed that the figures of Direct Tax collections for the Financial Year 2022-23, as on yesterday, show that net collections are at three lakh and nearly forty thousand crore rupees compared to two lakh and over thirty three crore rupees over the corresponding period of the preceding year. The Ministry said, it represents an increase of forty five per cent over the collections of the preceding year. The refund amounts of over thirty thousand crore rupees also have been issued by the ministry in the current financial year.
The net collection in the current financial year has registered a growth of one hundred seventy one per cent over the corresponding period of financial year 2020-21. The Ministry informed that the Advance Tax collections for the first quarter of the current financial year stand at over one lakh crore rupees against Advance Tax collections of over seventy five crore rupees for the corresponding period of the immediately preceding Financial Year. It shows a growth of more than thirty three per cent.
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