The Finance Ministry said on Sunday that the gross direct tax collections in India increased 30 percent to Rs 8.36 lakh crore till September 17 of the current fiscal year on the back of increased advance tax mop-up.
"The gross collection of direct taxes (before adjusting for refunds) for FY 2022-23 stands at Rs 8,36,225 crore compared to Rs 6,42,287 crore in the corresponding period of a year ago, registering a growth of 30 percent," the ministry said in a statement.
The cumulative advance tax collections for April-September stood at Rs 2,95,308 crore as on September 17, up by 17 percent from the corresponding period a year ago.
The statement further said that the gross collection of Rs 8.36 lakh crore includes Corporate Income Tax which came at Rs 4.36 lakh crore and Personal Income Tax (PIT), including Securities Transaction Tax which together stood at Rs 3.98 lakh crore.
After adjusting for refunds, net collections rose 23 per cent to Rs 7.6 lakh crore, compared to Rs 5.6 lakh crore in the corresponding period of 2021-22.
The government has estimated to collect Rs 14.20 lakh crore from direct taxes this fiscal. This includes Rs 7.20 lakh crore from corporate taxes and Rs 7 lakh crore from individual taxpayers.
(With inputs from PTI)
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