India’s Net direct tax collection grew by 17 % to 13.73 lakh crore rupees till March 10

The net direct tax collection so far in this fiscal has reached 13.73 lakh crore rupees which are around 17 per cent higher than the net collections for the corresponding period of last year.

This collection is around 97 per cent of the total budget estimates and over 83 per cent of the total revised estimates of Direct Taxes for the Financial Year 2022-23. The Central Board of Direct Taxes said, till now gross collections are at 16.68 lakh crore which is over 22 per cent higher than the gross collections for the corresponding period of last year. Refunds amounting to 2.95 lakh crore rupees have been issued from the 1st of April, 2022 to the 10th of March 2023, which are over 59 per cent higher than refunds issued during the same period in the preceding year.

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