Income tax department said the net direct tax collections until mid-June this fiscal rose 45 percent to over Rs 3.39 lakh crore, boosted by decent advance tax collections.
More than Rs 3.39 lakh crore of the direct tax collection was from Corporation Tax (CIT), which was over Rs 1.70 lakh crore, and Personal Income Tax (PIT), including Security Transaction Tax (STT), which was over Rs 1.67 lakh crore.
According to figures provided by the Central Board of Direct Taxes (CBDT), the collection of direct taxes is Rs 3,39,225 crore for the Financial Year 2022-23, compared to Rs 2,33,651 crore for the corresponding period last year, representing a 45 per cent rise.
Over Rs 1.01 lakh crore in advance tax collections have been collected for the first quarter of this fiscal year as opposed to Rs 75,783 crore in the same period last fiscal year, a growth of over 33 per cent. In this case, CIT amounts to Rs 78,842 crore and PIT amounts to Rs 22,175 crore.