NEW DELHI, Feb 12 (NNN-PTI) – Direct Tax collections in India, during the current 2022-23 financial year, stood at 15.67 trillion Indian rupees (190 billion U.S. dollars) till Feb 10, which is 24.09 percent higher than the gross collections for the corresponding period of last year.
According to a statement, issued by the Ministry of Finance yesterday, the Direct Tax collection net of refunds stood at 12.98 trillion Indian rupees (157 billion dollars), which is 18.40 percent higher than the net collections, for the corresponding period of last year.
Tax refunds amounting to 2.69 trillion Indian rupees (32.59 billion dollars) have been issued, so far, during the current financial year (Apr, 2022-Mar, 2023), which are 61.58 percent higher than refunds issued during the same period in the preceding year.
“This collection is 91.39 percent of the total Budget Estimates of Direct Taxes, and 78.65 percent of the Revised Estimates of Direct Taxes, for the current Financial Year,” said the ministry’s statement.– NNN-PTI
