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net direct tax collection of india The Central Board of Direct Taxes on Sunday said that collections in 2022-23 have crossed the ₹11 lakh crore mark till December 17, a 19.8% increase over the previous year. It was Rs 9,47,959 crore in the same period last year.
“The net direct tax collection of ₹11,35,754 crore includes corporation tax (CIT) at ₹6,06,679 crore (net of refund) and personal income tax including securities transaction tax at ₹5,26,477 crore (net of refund). It said in a statement.
Before giving effect to refunds, the gross direct tax kitty for this year has increased by 25.9% to Rs 13.63 lakh crore as compared to Rs 10.83 lakh crore in the same period of 2021-22. This includes advance tax collection of Rs 5,21,302 crore, tax deducted at source of Rs 6,44,761 crore and self-assessment tax of Rs 1.4 lakh crore.
Net direct tax collections had registered a growth of 24.3% till November 30, reaching Rs 8.77 lakh crore, and since the growth rate has slowed down, the advance tax collection for the October to December quarter this month has dented the overall kitty. Got strength.
The cumulative advance tax collections for the first, second and third quarters of 2022-23 are 12.83% higher than the Rs 4.62 lakh crore collected in the same period last year, the statement said. Advance tax revenue of ₹5,21,302 crore includes CIT collection of ₹3,97,364 crore and personal income tax collection of ₹1,23,936 crore.