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Direct tax collection rises by 18% in FY 2022-23

New Delhi: Net direct tax collection in the fiscal year 2022-23 rose by 18 per cent to Rs 16.61 lakh crore, said the finance ministry.  The gross collection for direct tax in FY 2022-23 stands at Rs 19.68 lakh crore. It is 2033 per cent higher than the collection of FY 2021-22 which was 16.36 […]

Edited By : Aditya Singh | Updated: Apr 4, 2023 13:10 IST
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New Delhi: Net direct tax collection in the fiscal year 2022-23 rose by 18 per cent to Rs 16.61 lakh crore, said the finance ministry. 

The gross collection for direct tax in FY 2022-23 stands at Rs 19.68 lakh crore. It is 2033 per cent higher than the collection of FY 2021-22 which was 16.36 crore.

According to data released by the finance ministry, the direct tax collections for the fiscal year 2022-23 stand at Rs 16.61 lakh crore. it shows 17.63 per cent growth on year on year basis. In FY 2021-22 the total direct tax collection was Rs 14.12 lakh. 

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The net direct tax collection, which includes taxes of individual taxpayers and corporates has surpassed the BE by 16.97 per cent and RE by 0.69 per cent, the ministry said. 

The statement said that refunds worth over Rs 3.07 lakh crore were refunded in 2022-23. 

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First published on: Apr 03, 2023 09:47 PM IST

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