Direct Tax collections up to 10th February, 2023 continue to register steady growth. The gross Direct Tax collections up to February 10 has been Rs. 15.67 lakh crore and it’s 24.09% higher than the tax collected during the corresponding period last year.
The growth rate in terms of gross revenue collection for Corporate Income Tax (CIT) and Personal Income Tax (PIT) respectively are 19.33% and 29.63%. The net growth in CIT collections after the adjustment of refunds is 15.84%. The growth in PIT collections after adjustment of refunds is 21.93% (PIT only)/ 21.23% (PIT including STT).
During April 1, 2022 to February 10, 2023 the total issued refunds has been Rs. 2.69 lakh crore and this amount is 61.58% higher than the refunds issued during the corresponding period last year.