{"id":116797,"date":"2022-09-21T11:58:18","date_gmt":"2022-09-21T06:28:18","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=116797"},"modified":"2022-09-21T11:58:20","modified_gmt":"2022-09-21T06:28:20","slug":"gross-direct-tax-collection-registered-growth-of-30-in-2022-23","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/gross-direct-tax-collection-registered-growth-of-30-in-2022-23\/","title":{"rendered":"Gross Direct Tax Collection Registered Growth of 30% in 2022-23"},"content":{"rendered":"\n

Gross Direct Tax Collection Registered Growth of 30% in 2022-23:<\/strong> The\u00a0Central Board of Direct Taxes(CBDT)<\/strong>\u00a0in a statement said that the\u00a0net direct tax collections<\/strong>\u00a0so far this financial year are at\u00a0\u20b9700,669 crore,\u00a0an increase of 23%<\/strong>\u00a0as compared to\u00a0\u20b9568,147 crore till the same period of the corresponding financial year. The total includes corporation tax of\u00a0\u20b9368,484 crore and personal income tax (including securities transaction tax) worth\u00a0\u20b9330,490 crore.<\/p>\n\n\n\n

September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n

What The CBDT Said:<\/strong><\/p>\n\n\n\n

The CBDT statement noted that the direct tax collections continue to grow at a robust pace, a clear indicator of the revival of economic activity post-pandemic, notably as also the result of the stable policies focusing on simplification and streamlining of processes and plugging of tax leakage through effective use of technology.<\/p>\n\n\n\n

What The No. Suggests:<\/strong><\/p>\n\n\n\n

The gross collection of direct taxes (before adjusting for refunds) for FY 2022-23 stands at Rs 8,36,225 crore compared to Rs 6,42,287 crore in the corresponding period of preceding financial year i.e. 2021-22, registering a growth of 30 per cent over collections of 2021-22,\u201d the ministry said in a statement. It said while adding that the the gross collection includes corporation tax at \u20b9436,020 crore and personal income tax (PIT) including securities transaction tax(STT) at \u20b9398,440 crore.<\/p>\n\n\n\n

Total Direct Tax:<\/strong><\/p>\n\n\n\n

As per the CBDT statement, \u201cthe cumulative advance tax collections for the first and second quarter of the FY 2022-23 stand at \u20b9295,308 crore as on 17.09.2022, against advance tax collections of \u20b9252,077 crore for the corresponding period of the immediately preceding Financial Year i.e FY 2021-22, showing a growth of 17 per cent. The advance tax collection of \u20b9295,308 crore comprises corporation tax (CIT) at \u20b9229,132 crore and personal income tax (PIT) at \u20b966,176 crore.\u201d<\/p>\n\n\n\n

It is worth noting that the speed of processing of income tax returns too rose this fiscal while almost 93% of the duly verified ITRs filed this year have been processed till Saturday, it said. \u201cThis has resulted in the faster issue of refunds with almost a 468 per cent increase in the number of refunds issued in the current financial year,\u201d it added further that subsequently, refunds amounting to \u20b9135,556 crore have been issued so far against refunds of \u20b974,140 crore being issued during the corresponding period in the preceding financial year 2021-22, showing a growth of around 83%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gross Direct Tax Collection Registered Growth of 30% in 2022-23: The\u00a0Central Board of Direct Taxes(CBDT)\u00a0in a statement said that the\u00a0net direct tax collections\u00a0so far this financial year are at\u00a0\u20b9700,669 crore,\u00a0an increase of 23%\u00a0as compared to\u00a0\u20b9568,147 crore till the same period of the corresponding financial year. The total includes corporation tax of\u00a0\u20b9368,484 crore and personal income […]<\/p>\n","protected":false},"author":894,"featured_media":116801,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4926],"tags":[82,107],"class_list":["post-116797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-september-2022","tag-economy-current-affairs","tag-finance-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/116797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=116797"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/116797\/revisions"}],"predecessor-version":[{"id":116802,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/116797\/revisions\/116802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/116801"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=116797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=116797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=116797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}