The provisional figures of Direct Tax collections up to October 9, 2023 continue to register steady growth, with gross collections at Rs. 11.07 lakh crore, which is 17.95% higher than the gross collections for the comparable period of last year.
Direct Tax collection, net of refunds, stands at Rs. 9.57 lakh crore which is 21.82% higher than the net collections for the comparable period of last year. This collection is 52.50% of the total Budget Estimates of Direct Taxes for F.Y. 2023-24.
So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 7.30% while that for PIT is 29.53% (PIT only)/ 29.08% (PIT including STT).
After adjustment of refunds, the net growth in CIT collections is 12.39% and that in PIT collections is 32.51% (PIT only)/ 31.85% (PIT including STT).
Refunds amounting to Rs. 1.50 lakh crore have been issued during April 01, 2023 to October 9, 2023.
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1966375