The Central Board of Direct Taxes (CBDT) has informed that Gross Direct Tax collections up to 8th September, 2022 are at Rs. 6.48 lakh crore, which is 35.46% higher than the gross collections for the corresponding period of last year.
Direct Tax collection, net of refunds, stands at Rs 5.29 lakh crore which is 30.17 % higher than the net collections for the corresponding period of last year. This collection is 37.24% of the total Budget Estimates of Direct Taxes for F.Y. 2022-23.
Whereas, refunds amounting to Rs 1.19 lakh crore have been issued during 1st April, 2022 to 8th September, 2022, which are 65.29% higher than refunds issued during the same period in the preceding year.
Further, growth rate for Corporate Income Tax (CIT) is 25.95% while that for PIT (including STT) is 44.37%. After adjustment of refunds, the net growth in CIT collections is 32.73% and that in PIT collections (including STT) is 28.32%.