NEW DELHI: The provisional figures of direct tax collections for the Financial Year 2022-23 show that net collections are at Rs 16.61 lakh crore, compared to Rs 14.12 lakh crore in the preceding FY 2021-22, representing an increase of 17.63per cent.
The Budget Estimates (BE) for direct tax revenue in the Union Budget for FY 2022-23 were fixed at Rs.14.20 lakh crore which were revised and the Revised Estimates (RE) were fixed at Rs.16.50 lakh crore. The provisional direct tax collections (net of the refunds) have exceeded the BE by 16.97 per cent and RE by 0.69 per cent.
The gross collection (provisional) of direct taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs 19.68 lakh crore, showing a growth of 20.33 per cent 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 Rs10,04,118 crore and has shown a growth of 16.91per cent over the gross corporate tax collection of Rs.8,58,849 crore of 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 24.23per cent over the gross personal income tax collection (including STT) of Rs.7,73,389 crore of the preceding year.
Refunds of Rs 3,07,352 crore have been issued in the FY 2022-23 showing an increase of 37.42 per cent over the refunds of Rs 2,23,658 crore issued in FY 2021-22.
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