Team News Riveting
New Delhi, October 10
The provisional figures of Direct Tax collections up to 09th October, 2023 continue to register steady growth, with gross collections at Rs 11.07 lakh crore, which is 17.95 per cent 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 per cent higher than the net collections for the comparable period of last year. This collection is 52.50 per cent 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 per cent while that for PIT is 29.53 per cent (PIT only)/ 29.08 per cent (PIT including STT).
After adjustment of refunds, the net growth in CIT collections is 12.39 per cent and that in PIT collections is 32.51 per cent (PIT only)/ 31.85 per cent (PIT including STT).
Refunds amounting to Rs 1.50 lakh crore have been issued during 1st April, 2023 to 09th October 2023.
