Gross direct tax kitty grows 30%

Gross collection of direct taxes for 2022-23 stands at Rs 8,36,225 crore compared to Rs 6,42,287 crore in the last fiscal year

AgenciesUpdated: Monday, September 19, 2022, 10:24 AM IST
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Gross direct tax collections grew 30 per cent to Rs 8.36 lakh crore till September 17 of current fiscal year on higher advance tax mop-up buoyed by the economic revival post pandemic, the finance ministry said on Sunday.

After adjusting for refunds amounting to Rs 1.35 lakh crore, net direct tax kitty grew 23 per cent to Rs7 lakh crore. Gross collection of direct taxes for 2022-23 stands at Rs 8,36,225 crore compared to Rs 6,42,287 crore in the last fiscal year, registering a growth of 30 per cent, the ministry said.

“Direct tax collections continue to grow at a robust pace, a clear indicator of the revival of economic activity, as also the result of the stable policies of the government, focusing on streamlining of processes and plugging of tax leakage through effective use of technology,” the ministry said.

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