HomeLifestyle30% increase in direct tax collection, ₹8.36 lakh crore in the exchequer

30% increase in direct tax collection, ₹8.36 lakh crore in the exchequer

New Delhi. There is good news for Modi government. Actually, there has been a sharp increase in tax collection in the current financial year. Gross direct tax collection increased by 30 per cent to Rs 8.36 lakh crore in the current financial year till September 17 due to increase in advance tax collection. The Finance Ministry gave this information on Sunday.

The ministry said in a statement, “The gross collection of direct taxes for the financial year 2022-23 so far (before adjusting for refund) is Rs 8,36,225 crore, which is Rs 6,42,287 crore for the corresponding period of the previous financial year. 30 per cent more than Rs.

Advance tax collection increased by up to 17%

The cumulative advance tax collection for April-September stood at Rs 2,95,308 crore as on September 17, up 17 per cent over the same period a year ago.

Also read- What should the taxpayer do after receiving the notice of outstanding tax for the previous year, where will he have to reply first?

₹4.36 lakh crore came from Corporate Income Tax and ₹3.98 lakh crore from PIT

The statement said that of the gross collection of Rs 8.36 lakh crore, Rs 4.36 lakh crore came from corporate income tax and Rs 3.98 lakh crore from personal income tax (PIT). PIT includes securities transaction tax. After adjusting for refunds, net collection increased by 23 per cent to Rs 7,00,669 crore.

Tags: direct tax, income tax, income tax department, Tax

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