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The advance tax collection of Rs 2,95,308 crore comprises corporation tax (CIT) at Rs 2,29,132 crore and personal income tax (PIT) at Rs 6,176 crore
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The ministry of finance on Sunday said that the gross direct tax collections grew 30 per cent to Rs 8.36 lakh crore by September 17 of the current fiscal year.
"The gross collection of direct taxes (before adjusting for refunds) for FY 2022-23 stands at Rs. 8,36,225 crore compared to Rs. 6,42,287 crore in FY 2021-22, registering a growth of 30 per cent over collections of FY 2021-22," the ministry said.
The figures of direct tax collections for the FY 2022-23, as of 17 September showed that net collections are at Rs 7,00,669 crore, compared to Rs 5,68,147 crore in FY 2021-22 which is an increase of 23 per cent.
The ministry said that 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.
Also, the gross collection of Rs 8,36,225 crore includes CIT at Rs 4,36,020 crore and PIT including 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 September, against advance tax collections of Rs 2,52,077 crore for FY 2021-22, a growth of 17 per cent," it added.
The advance tax collection of Rs 2,95,308 crore comprises corporation tax (CIT) at Rs 2,29,132 crore and personal income tax (PIT) at Rs 6,176 crore.
Meanwhile, refunds amounting to Rs 1,35,556 crore have been issued in the FY 2022-23 till 17 September, as against refunds of Rs 74,140 crore issued during the corresponding period in the preceding financial year 2021-22, showing a growth of over 83 per cent.