Net direct tax mop-up rise by 30% during 1 Apr-17 Sep 2022

Net direct tax collections surged by 23 per cent to Rs.7 trillion during 1 April-17 September 2022 as compared to Rs.5.7 trillion collected in the same period a year ago. While Rs.3.7 trillion was collected as corporation tax, Rs.3.3 trillion was collected as income tax. Gross direct tax collections grew by 30 per cent to Rs.8.4 trillion till 17 September 2022 of the current fiscal year. For the period under review, advance tax collection grew by 17 per cent to Rs.2.9 trillion. This includes advance tax payout by corporate taxpayers of Rs.2.3 trillion. Refunds amounting to Rs.1.4 trillion have been issued in 2022-23 till 17 September 2022, indicating a 83 per cent growth over the year-ago period.