Direct tax

About:

• It is an increase of 16.3% over the tax inflows during the corresponding period a year ago.
• Based on provisional data, net personal income tax collections grew 17.35%, rising faster than corporate income tax collections that were up 16.29% net of refunds.
• Securities Transaction Tax (STT) collections combined with personal income tax receipts, grew at a more moderate 16.25%.
• Underlining that direct tax collections continue to register a steady growth, the Ministry said tax refunds had jumped 81% over the preceding year to touch ₹1.53 lakh crore.
• Net direct tax collections had crossed ₹7 lakh crore by September 17, 2022 and were 23.3% higher at the time, so there appears to have been a moderation in tax inflows in the intervening three weeks.
• Gross revenues from direct taxes were at ₹8,36,225 crore on September 17, reflecting a 30.2% growth.

Source : The Hindu

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