New Delhi, Sep 17 (FN Agency) The net direct tax collections for the financial year 2022-23 (till September 17) registered an year on year growth of 23 percent compared to same period in previous year, a statement from Finance Ministry said on Sunday. The direct tax collections for the FY 2022-23, as on 17.09.2022 show that net collections are at Rs 7,00,669 crore, compared to Rs 5,68,147 crore in the corresponding period of the preceding financial year.
The net direct tax collection of Rs 7,00,669 crore (net of refund) includes Corporation Tax (CIT) at Rs. 3,68,484 crore and Personal Income Tax (PIT) including Securities Transaction Tax(STT) at Rs. 3,30,490 crore. The gross collection of direct taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs 8,36,225 crore compared to Rs 6,42,287 crore in the corresponding period of the preceding financial year. The gross collection of Rs 8,36,225 crore includes Corporation Tax (CIT) at Rs 4,36,020 crore and Personal Income Tax (PIT) including Securities Transaction Tax(STT) at Rs 3,98,440 crore.
The cumulative advance tax collections for the first and second quarter of the FY 2022-23 stand at Rs 2,95,308 crore as on 17.09.2022, against Advance Tax collections of Rs 2,52,077 crore for the corresponding period of the immediately preceding financial year, the statement added.