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Direct Tax collections rises by 35.46% to Rs 6.48 lakh crore

New Delhi: The overall direct tax collection in the country has surged by 35.46% . Up to September 8, the overall direct tax collection has reached at Rs 6.48 lakh crore.

Union Finance Ministry revealed that more than Rs 1.19 lakh crore have been issued as refunds  during 1st April to 8th September this year. This is 65% higher than the refunds issued for the same period in the last year. Net collections, after factoring in refunds, are estimated to have increased by over 30% to around Rs 5.3 lakh crore. This collection is 37.24% of the total budget estimates of direct taxes for Financial Year 2022-23.

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As per reports, the Union government has estimated to collect Rs 14.20 lakh crore from direct taxes this fiscal, including Rs 7.20 lakh crore from corporate taxes and Rs 7 lakh crore from individual taxpayers.


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