Centre collects ₹4.75 trillion in net direct tax receipts so far this year
New Delhi: The Central government has collected Rs. 4.75 trillion in direct taxes after adjusting for refunds, so far this financial year, up to 9 July, the Central Board of Direct Taxes (CBDT) said on Monday. This is a jump of 15.87% compared to the net direct tax receipts for the corresponding period of last year.
CBDT said that the net direct tax revenue collected so far accounts 26% of the full year budget estimate for this fiscal. The government expects to collect ₹18.2 trillion in direct tax receipts this financial year, a 10.5% improvement from the direct taxes collected in the same time a year ago. “Provisional figures of direct tax collections up to 9 July, 2023 continue to register steady growth," CBDT said. Gross direct tax receipts before adjusting for tax refunds stood at Rs. 5.17 trillion which is 14.65% higher than the gross collections for the corresponding period of last year. Tax refunds amounting to Rs.42,000 crore have been issued till 9 July this financial year, which is 2.55% higher than the refunds issued in the same period a year ago, CBDT said.
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