The Union Finance Ministry on Monday, April 3, said the net direct tax collection (provisional) for the FY 2022-23 rose 17.63 percent to Rs 16.61 lakh crore compared to Rs 14.12 lakh crore in the preceding financial year.
The Budget Estimate (BE) for direct tax revenue in the Union Budget for FY 2022-23 was fixed at Rs 14.20 lakh crore, which was revised upwards to Rs 16.50 lakh crore in the Revised Estimate.
The provisional direct tax collections (net of the refunds) have exceeded the BE by 16.97 percent and RE by 0.69 percent.
The gross collection (provisional) of direct taxes (before adjusting for refunds) for FY 2022-23 stands at Rs 19.68 lakh crore, showing a growth of 20.33 percent over the gross collection of Rs 16.36 lakh crore in FY 2021-22.
The gross corporate tax collection (provisional) in FY 2022-23 is at Rs 10,04,118 crore and has shown a growth of 16.91 percent over the gross corporate tax collection of Rs 8,58,849 crore in the preceding year.
The gross personal income tax collection — including STT — (provisional) in FY 2022-23 is at Rs 9,60,764 crore and has shown a growth of 24.23 percent over the gross personal income tax collection (including STT) of Rs 7,73,389 crore in the preceding year.
Refunds of Rs 3,07,352 crore have been issued in FY 2022-23, again an increase of 37.42 percent over the refunds of Rs 2,23,658 crore issued in FY2021-22.
