New Delhi, June 17 (Bureau) The net direct tax collection increased by 45 per cent to Rs 3.39 lakh crore till mid-June of the current financial year, an official statement said on Friday. The net direct tax collection during the same period last year was Rs 2,33,651 crore. The net collection, till June 16, 2022, in financial year 2022-23 has registered a growth of 171 pc over the corresponding period of financial year 2020-21 when the net collection was Rs 1,25,065 crore, and a growth of 103 pc over the corresponding period of financial year 2019-20 when the net collection was Rs 1,67,432 crore.
The net direct tax collection of Rs 3,39,225 crore included Corporation Tax (CIT) at Rs 1,70,583 crore (net of refund) and Personal Income Tax (PIT), including Security Transaction Tax (STT) at Rs 1,67,960 crore (net of refund). The gross collection of direct taxes (before adjusting for refunds) for the financial year 2022-23 stood at Rs 3,69,559 crore compared to Rs 2,64,382 crore in the corresponding period of the preceding year, representing an increase of almost 40 pc over the collections of the preceding year. This included Corporation Tax (CIT) at Rs. 1,90,651 crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs. 1,78,215 crore. Minor head wise collection comprised advance tax of Rs 1,01,017 crore, tax deducted at source of Rs 2,29,676 crore, self-assessment tax of Rs 21,849 crore, regular assessment Tax of Rs 10,773 crore, tax on distributed profits of Rs 5,529 crore and tax under other minor heads of Rs 715 crore. The advance tax collections for the first quarter of the financial year 2022-23 was Rs 1,01,017 crore against advance tax collections of Rs 75,783 crore for the corresponding period of the immediately preceding Financial Year, showing a growth of more than 33 pc.
The TDS collections for financial year 2022-23, till June 16, 2022, was Rs 2,29,676 crore against TDS collections of Rs 1,57,434 crore for the corresponding period of the immediately preceding Financial Year, showing a growth of nearly 46 pc. The self-assessment tax collections for financial year 2022-23, till June 16, 2022, was Rs 21,849 crore against self-assessment tax collections of Rs 15,483 crore for the corresponding period of the immediately preceding Financial Year, showing a growth of more than 41%. Refunds amounting to Rs 30,334 crore were issued in the financial year 2022-23, the statement added.