Provisional Net Direct Collections for FY 2022-23 marks growth of 17.63%: FinMin
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- Last Updated on 5 April, 2023
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Press Release dated 03-04-2023
The Ministry of Finance released the provisional figures of Direct Tax collections for the Financial Year (FY) 2022-23. It shows that the Net collections are at Rs. 16.61 lakh crore, compared to Rs. 14.12 lakh crore in the preceding Financial Year, i.e. FY 2021-22, representing an increase of 17.63%.
The Gross collection (provisional) of Direct Taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs. 19.68 lakh crore showing a growth of 20.33% over the gross collection of Rs. 16.36 lakh crore in FY 2021-22.
Further, the gross Personal Income Tax collection (including STT) (provisional) in FY 2022-23 is Rs.9,60,764 crore. It has shown a growth of 24.23% over the gross Personal Income Tax collection (including STT) of Rs. 7,73,389 crore of the preceding year.
In addition, refunds of Rs. 3,07,352 crore have been issued in the FY 2022-23 showing an increase of 37.42 %over the refunds of Rs. 2,23,658 crore issued in FY 2021-22.
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