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News INCOME TAX

  • Sep 19, 2022
  • Direct tax kitty grows 30% in FY23 to Rs 8.36 lakh cr on higher advance tax mop-up

    Gross direct tax collections grew 30 per cent to Rs 8.36 lakh crore till September 17 of current fiscal year on increased advance tax mop-up, the finance ministry said on Sunday.

    “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 the corresponding period of preceding financial year i.e. 2021-22, registering a growth of 30 per cent over collections of 2021-22,” the ministry said in a statement.