The current fiscal’s gross direct tax collection increased by 15.73% to Rs 6.53 lakh crore as of August 10th, the Income Tax department said on Friday.
After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% more than the net receipts for the same time previous year.
The Central Board of Direct Taxes (CBDT) released a statement stating that “the provisional figures of direct tax collections up to 10th August, 2023 continue to register steady growth.”
The amount collected represents 32.03 percent of the current fiscal year’s overall budget forecasts for direct taxes.
As of August 10, refunds of Rs 69,000 crore have been granted, which is 3.73 percent more than what was done at the same time last year.