Estimated reading time: 2 minutes
According to the latest provisional figures, Direct Tax collections in India are continuing to show steady growth. As of 10th February 2023, the gross collections stand at Rs. 15.67 lakh crore, which is 24.09% higher than the same period last year.
The net collections, after subtracting refunds, are at Rs. 12.98 lakh crore, representing a growth of 18.40% compared to last year. These collections make up 91.39% of the total Budget Estimates for Direct Taxes in the current financial year and 78.65% of the Revised Estimates.
When it comes to the growth of Corporate Income Tax (CIT) and Personal Income Tax (PIT), the growth rate for CIT is 19.33% while that for PIT (including Securities Transaction Tax) is 29.63%. After adjusting for refunds, the net growth in CIT collections is 15.84% and the net growth in PIT collections is 21.93% (for PIT only) or 21.23% (for PIT including STT).
In terms of refunds, a total of Rs. 2.69 lakh crore have been issued from 1st April 2022 to 10th February 2023, which is 61.58% higher than the same period in the previous year.
These provisional figures indicate that Direct Tax collections in India are on a positive trajectory, with steady growth in both CIT and PIT collections. The increase in refunds issued also shows that the government is committed to supporting taxpayers and facilitating the tax-paying process.
Latest Stories
Yoga and Meditation for Family: In today's fast-paced world, finding time to connect as a family and unwind together is more important than ever. Amidst the hustle and bustle of daily life, yoga…
Click here to Read more
Aries (March 21 - April 19): Your energy levels are high today, Aries. Use this vitality to tackle any challenges head-on. Focus on your goals and don't be afraid to take the lead…
Click here to Read more
Mindful Shopping Tips: In a world inundated with consumerism, adopting mindful shopping habits is essential for those seeking to make more ethical and sustainable choices. This article offers practical tips for conscious consumers,…
Click here to Read more
In a recent development, the Karnataka Police made headlines as they apprehended a man from Goa, identified as BhikuMhatre on social media platforms, in connection with an alleged defamatory post targeting the Congress…
Click here to Read more
As the mercury continues its upward climb, residents across several states in northern and western India are bracing themselves for the scorching heatwave forecasted by the India Meteorological Department (IMD). With IMD's latest…
Click here to Read more.jpg "Elon Musk Meets Sri Lankan President Ranil Wickremesinghe in Bali 6")
During the 10th World Water Forum High-Level Meeting in Bali, Indonesia, Sri Lankan President Ranil Wickremesinghe met with billionaire businessman Elon Musk to discuss the implementation of Starlink in Sri Lanka. The President's…
Click here to Read more
Anil Kapoor and Sunita Kapoor, one of Bollywood's classiest couples, are celebrating their fortieth wedding anniversary today. The beloved couple has been showered with love and best wishes from family and friends, including…
Click here to Read more
The Indian Meteorological Department (IMD) has issued a significant heatwave warning for multiple regions across India, effective on May 19, 2024. According to the IMD, "Heatwave to severe heatwave conditions are very likely…
Click here to Read more
Sobhita Dhulipala, the Bollywood sensation, continues to dazzle on the international stage at the 77th Cannes Film Festival. Following her eye-catching debut in a vibrant Namrata Joshipura jumpsuit, Dhulipala unveiled her second look,…
Click here to Read more
The Ministry of Ports, Shipping and Waterways (MoPSW) celebrated the International Day for Women in Maritime in New Delhi, highlighting the crucial contributions of women seafarers. This year's theme, "Safe Horizons: Women in…
Click here to Read more
Assam Chief Minister Himanta Biswa Sarma recently spotlighted a significant financial achievement for the state: a 159% growth in mutual fund investments over the past five years. The total investment soared from ₹11,298…
Click here to Read more
Chief Minister of Goa, Dr. Pramod Sawant, celebrates the cultural tapestry of the state, acknowledging its diverse heritage in spite of its small size and population. Dr. Pramod Sawant expressed pride in Goa's…
Click here to Read more
Salman Khan, the iconic Bollywood superstar, continues to capture the hearts of fans worldwide with his endearing personality and humble gestures. Recently, a heartwarming video of Salman Khan playing with a little fan…
Click here to Read more
Chief Minister of Manipur, N. Biren Singh, has taken a proactive stance towards environmental conservation by participating in a community social service event ahead of World Environment Day. Singh commended the initiative undertaken…
Click here to Read more
Shweta Tiwari, the beloved actress, continues to captivate audiences with her charm and talent, solidifying her status as a fan favorite over the years. With a massive following on Instagram, she shares her…
Click here to Read more
The Election Commission's determined stance against money power and inducements in the ongoing Lok Sabha elections has yielded remarkable results, with agencies seizing an unprecedented amount totaling Rs 8889 crores. Vigilance against inducements,…
Click here to Read more
Punjabi sensation Sunanda Sharma made heads turn as she graced the red carpet at the prestigious 77th Cannes Film Festival in 2024. Renowned for chartbusters like "Mummy Nu Pasand" and "Chandigarh ka Chhokra,"…
Click here to Read more
Actress and Member of Parliament, Hema Malini, recently took to the campaign trail in Odisha, extending her support to party candidates ahead of the upcoming elections Phase. In her campaign efforts, Hema Malini…
Click here to Read more
Rajkummar Rao's latest release, "Srikanth," is gaining momentum as it enters its second week. The film's business has seen a significant acceleration, particularly on its second Saturday. Urban centers remain key contributors, with…
Click here to Read more.jpg "President Murmu Honors Former President Neelam Sanjiva Reddy 20")
President Droupadi Murmu of India reverently laid floral tributes in honor of the esteemed former President Neelam Sanjiva Reddy on his birth anniversary at Rashtrapati Bhavan. Neelam Sanjiva Reddy, a towering figure in…
Click here to Read more
Amidst the glitz and glamour of the Cannes Film Festival 2024, Kiara Advani made a notable appearance at the Red Sea Film Festival's Women in Cinema Gala, proudly representing India on the global…
Click here to Read more
Uttarakhand Chief Minister Pushkar Singh Dhami commemorated the death anniversary of the esteemed litterateur Hazari Prasad Dwivedi with a humble tribute, acknowledging Dwivedi's profound impact on Hindi literature. Hazari Prasad Dwivedi, a literary…
Click here to Read more
Chief Minister Pema Khandu of Arunachal Pradesh commemorated the death anniversary of Jamsetji Tata with a poignant tribute, honoring the legacy of the iconic industrialist. In his statement, Khandu hailed Tata as a…
Click here to Read more
Akshay Kumar, Arshad Warsi, and Huma Qureshi are gearing up to enthrall audiences once again with the highly anticipated third installment of their hit movie franchise, "Jolly LLB." Recently, social media was abuzz…
Click here to Read more
The 77th Cannes Film Festival is in full swing in Cannes, France, drawing celebrities and cinema aficionados from around the globe. Among them is Aishwarya Rai Bachchan, a familiar face at the prestigious…
Click here to Read more
Los Angeles: In a concerning incident in Los Angeles, a man's apparent mental health episode led to a harrowing encounter with traffic. Witnesses reported seeing the man dart across traffic before colliding with…
Click here to Read more
Aishwarya Rai Bachchan continues to reign supreme as the queen of Cannes, effortlessly pushing the boundaries of fashion and style. Her first look at the event, a black and white gown adorned with…
Click here to Read more
Delhi Traffic Advisory has issued a warning regarding anticipated heavy traffic in the vicinity of DDU Marg, IP Marg, Minto Road, and Vikas Marg due to a proposed protest by a political party.…
Click here to Read more
Actress Kiara Advani has captivated hearts once again with her ethereal appearance at the Red Sea Film Foundation Women in Cinema Gala Dinner at Cannes. As she graced the event representing India, anticipation…
Click here to Read more
Nitin Gadkari, Minister of Road Transport and Highways, paid tribute to Jamsetji Nusserwanji Tata on his death anniversary. Tata, born on March 3, 1839, was a visionary industrialist who laid the foundation of…
Click here to Read more
Actor Rajpal Yadav and director-composer-writer Palaash Muchhal unveiled the first look poster of their new movie, "Maktoob," at the prestigious Cannes Film Festival. The event marked a significant moment as the film’s poster…
Click here to Read more
The National Center for Seismology (NCS) has reported an earthquake of magnitude 4.2 in the Xinjiang region. The seismic event occurred on May 19, 2024, at 01:08:58 IST. The earthquake's epicenter was located…
Click here to Read more
"Chandu Champion" Trailer Released: Actor Kartik Aaryan has left fans buzzing with the release of the trailer for his upcoming film, "Chandu Champion." Unveiled in his hometown of Gwalior, the trailer has set…
Click here to Read more
Weather: The Southwest Monsoon is expected to advance into the South Andaman Sea, parts of the Southeast Bay of Bengal, and the Nicobar Islands within the next 36 hours. Cyclonic Circulation and Troughs…
Click here to Read moreAries (Mar 21 - Apr 19): You might feel a surge of energy today, Aries. It's a good time to tackle projects that require determination and assertiveness. Be open to new opportunities that…
Click here to Read more
The India Meteorological Department (IMD) has issued a significant warning for Tamil Nadu, Puducherry, and Karaikal regions, forecasting isolated extremely heavy rainfall exceeding 204.5 mm on May 19 and 20, 2024. Residents and…
Click here to Read more
JAC Board Result: The Jharkhand Academic Council (JAC) has declared the JAC Board Result 2024 for Class 9 and Class 11 on May 17, 2024. Students who appeared for the exams can check…
Click here to Read more
Aparichithudu Re-release: Chiyaan Vikram and Shankar's iconic collaboration, "Aparichithudu" (known as "Anniyan" in Tamil), has returned to theaters, igniting a wave of excitement among fans nearly two decades after its initial release. The…
Click here to Read more
Maharashtra is preparing for the fifth phase of the Lok Sabha elections, set to take place on Monday, May 20, 2024. In the days leading up to the crucial voting day, Bollywood superstar…
Click here to Read more
Lok Sabha Election: In Phase-6 of the Lok Sabha Elections 2024, a total of 889 candidates from 8 States and Union Territories (UTs) are set to contest. This includes 20 candidates participating in…
Click here to Read moreThe India Meteorological Department (IMD) has issued an alert regarding ongoing heat wave conditions across various regions in India. Over the next five days, severe heat wave conditions are expected to persist in…
Click here to Read more
OTT giant Prime Video has declared the global streaming premiere of the blockbuster comedy-drama "Madgaon Express." Starring Divyenndu, Pratik Gandhi, and Avinash Tiwary, with Nora Fatehi, Upendra Limaye, and Chhaya Kadam in pivotal…
Click here to Read more
