Direct tax kitty grows 30% to ₹8.36 lakh crore on upper advance tax mop-up

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Printed on Sep 18, 2022 05:10 PM IST

Gross choice of direct taxes for 2022-23 stands at ₹8,36,225 crore in comparison to ₹6,42,287 crore within the year-ago duration, registering a expansion of 30 in step with cent, the ministry mentioned in a remark.

2.95 lakh crore. This comprises advance tax payout via company taxpayers of 2.29 lakh crore.(HT record photograph. Consultant symbol)” src=”https://photographs.hindustantimes.com/img/2022/09/18/550×309/tax_chor_1618010896584_1663501176480_1663501176480.jpg” name=”For April-September, advance tax assortment grew 17 in step with cent to 2.95 lakh crore. This comprises advance tax payout via company taxpayers of 2.29 lakh crore.(HT record photograph. Consultant symbol)”>
For April-September, advance tax assortment grew 17 in step with cent to 2.95 lakh crore. This comprises advance tax payout via company taxpayers of 2.29 lakh crore.(HT record photograph. Consultant symbol)

Gross direct tax collections grew 30 in step with cent to 8.36 lakh crore until September 17 of present fiscal 12 months on upper advance tax mop-up buoyed via the commercial revival put up pandemic, the finance ministry mentioned on Sunday.

After adjusting for refunds amounting to 1.35 lakh crore, web direct tax kitty grew 23 in step with cent to 7 lakh crore.

Gross choice of direct taxes for 2022-23 stands at 8,36,225 crore in comparison to 6,42,287 crore within the year-ago duration, registering a expansion of 30 in step with cent, the ministry mentioned in a remark.

This comprises income from Company Source of revenue Tax of 4.36 lakh crore and Private Source of revenue Tax (PIT) of 3.98 lakh crore.

“ Direct tax collections keep growing at a powerful tempo, a transparent indicator of the revival of monetary process put up pandemic, as additionally the results of the strong insurance policies of the federal government, that specialize in simplification and streamlining of processes and plugging of tax leakage thru efficient use of generation,” the ministry mentioned.

For April-September, advance tax assortment grew 17 in step with cent to 2.95 lakh crore. This comprises advance tax payout via company taxpayers of 2.29 lakh crore.

Satheendhar Sahani

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