Provisional Net Direct Collections for FY 2022-23 marks growth of 17.63%: FinMin
- Blog|News|Income Tax|
- < 1 minute
- By Taxmann
- |
- Last Updated on 5 April, 2023
Latest from Taxmann
Press Release dated 03-04-2023
The Ministry of Finance released the provisional figures of Direct Tax collections for the Financial Year (FY) 2022-23. It shows that the Net collections are at Rs. 16.61 lakh crore, compared to Rs. 14.12 lakh crore in the preceding Financial Year, i.e. FY 2021-22, representing an increase of 17.63%.
The Gross collection (provisional) of Direct Taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs. 19.68 lakh crore showing a growth of 20.33% over the gross collection of Rs. 16.36 lakh crore in FY 2021-22.
Further, the gross Personal Income Tax collection (including STT) (provisional) in FY 2022-23 is Rs.9,60,764 crore. It has shown a growth of 24.23% over the gross Personal Income Tax collection (including STT) of Rs. 7,73,389 crore of the preceding year.
In addition, refunds of Rs. 3,07,352 crore have been issued in the FY 2022-23 showing an increase of 37.42 %over the refunds of Rs. 2,23,658 crore issued in FY 2021-22.
Click Here To Read The Full Press Release
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
