Direct Tax collection, net of refunds, stands at Rs 12.31 lakh crore which is 19.55 % higher than the net collections for the corresponding period of last year, it said.
This collection is 86.68% of the total Budget Estimates of Direct Taxes for F.Y. 2022-23.
So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 19.72% while that for PIT (including STT) is 30.46%.
After the adjustment of refunds, the net growth in CIT collections is 18.33% and that in PIT collections is 21.64% (PIT only)/ 20.97% (PIT including STT).
The ministry said refunds amounting to Rs 2.40 lakh crore have been issued from April 1, 2022, to January 10, 2023, which are 58.74% higher than refunds issued during the same period in the preceding year.