Direct tax collections rise 16% to ₹6.53 lakh crore so far this fiscal
Gross direct tax collection grew 15.73 per cent to ₹6.53 lakh crore till August 10 in the current fiscal, the Income Tax department said on Friday.
Net direct tax collection after adjusting refunds stands at ₹5.84 lakh crore, which is 17.33 per cent higher than the net collections for the corresponding period of last year.
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“The provisional figures of direct tax collections up to 10th August, 2023 continue to register steady growth,” the Central Board of Direct Taxes (CBDT) said in a statement.
The collection is 32.03 per cent of the total budget estimates of direct taxes for current fiscal 2023-24.
Refunds amounting to ₹69,000 crore have been issued till August 10, which are 3.73 per cent higher than refunds issued during the same period in the preceding year.
