Net direct tax collections rose by 18 per cent to Rs 16.61 lakh crore in the 2022-23 fiscal, exceeding the revised estimates (RE).
The gross collection of direct taxes (before adjusting for refunds) for 2022-23 stands at Rs 19.68 lakh crore, a growth of 20.33 per cent over the gross collection of Rs 16.36 lakh crore in FY2021-22, the finance ministry said.
The provisional figures of direct tax collections for the financial year (FY) 2022-23 show that net collections are at Rs 16.61 lakh crore, compared to Rs 14.12 lakh crore in the preceding FY 2021-22, representing an increase of 17.63 per cent, the ministry said in a statement.
The Budget Estimates (BE) for direct tax revenue in the Union Budget for 2022-23 were fixed at Rs 14.20 lakh crore, and the Revised Estimates (RE) were pegged higher at Rs 16.50 lakh crore.
The net direct tax collections, which include taxes from individuals and corporations, have exceeded the BE by 16.97 per cent and RE by 0.69 per cent, the ministry added.
Refunds worth over Rs 3.07 lakh crore were issued in 2022-23, which ended on March 31.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
20112024_n_celebsvoting_142559
Net Direct Tax Collection Grows 22% To Rs 6.93 Lakh Crore: Government Data Net Direct Tax Collection In FY25 Surges By 20%, Reaches Rs 4.62 Lakh Crore Nearly Rs 2,000 Crore Hike In Space Department Budget, Dip In Allocation For Atomic Energy Live Updates: After Maharashtra, Jharkhand Elections, Time For Exit Polls Man Slashes Teacher's Neck In School. She Had Refused To Marry Him Candidate From Maharashtra's Beed Dies Of Heart Attack In Polling Booth Indian-American Researcher Unveils How Ancient Egyptians Built The Pyramids Shah Rukh Khan Casts Vote In Mumbai Along With Family In Maharashtra Polls "Legendary Glamma": How This 85-Year-Old From Zambia Became A Fashion Icon Track Latest News Live on NDTV.com and get news updates from India and around the world.