The provisional figures of direct tax collections continue to register a steady growth, shows the data revealed by Central Board of Direct Taxes (CBDT).
Direct tax collections up to July 9, 2023 show that gross collections are at Rs. 5.17 lakh crore, 14.65 percent higher than the gross collections for the corresponding period of last year.
At the same time direct tax collection, net of refunds, stands at ₹4.75 lakh crore which is 15.87 percent higher than the net collections for the corresponding period of last year.
This is 26 percent of the total budget estimates of direct taxes for FY 2023-24.
Refunds amounting to Rs. 42,000 crore have been issued during 1st April, 2023 to 9 July 2023, which are 2.55 percent higher than refunds issued during the same period in the preceding year.