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Gross direct tax collections grew 30 per cent to ₹8.36 lakh crore till September 17 of the current fiscal year on increased advance tax mop-up, the finance ministry said on Sunday.
“The gross collection of direct taxes (before adjusting for refunds) for FY 2022-23 stands at ₹8,36,225 crore compared to ₹6,42,287 crore in the corresponding period of preceding financial year (2021-22), registering a growth of 30 per cent over collections of 2021-22,” the ministry said in a statement.
The cumulative advance tax collections for April-September stand at ₹2,95,308 crore as on September 17, up 17 per cent over the year-ago period.
Gross collection of ₹8.36 lakh crore includes Corporate Income Tax at ₹4.36 lakh crore and Personal Income Tax (PIT), including Securities Transaction Tax at ₹3.98 lakh crore.
After adjusting for refunds, net collections rose 23 per cent to ₹7,00,669 crore, compared to ₹5,68,147 crore in the corresponding period of 2021-22.
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