The provisional data of the collection of Direct Taxes up to 9th July 2023 continues to experience steady growth. Collection of direct taxes up to 9th July 2023 shows gross collections are at Rs. 5.17 lakh crore, which is 14.65% higher than the gross receipts for the corresponding period last year.
The collection of direct taxes, net of refunds, is Rs. 4.75 lakh crore, which is 15.87% higher than the net receipts for the corresponding period last year. This collection represents 26.05% of total direct tax budget estimates for FY 2023-24.
Refunds in the amount of Rs. 42,000 crore was issued during 1st April 2023 to 9th July 2023, which are 2.55% higher than the refunds issued in the same period of the previous year.
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PPG/KMN
