Direct tax collection is up 24% to Rs.8.77 lakh cr; nears 62% of Budget estimates
India sees a surge in the net tax collection for the current fiscal, 2022-23. There is a 24.26 percent high collection than the net collection for the corresponding period of last year.
More than 72 lakh ITRs were filed on July 31 alone, it said. Also, more than five crore ITRs were filed in July. In addition to this, seven crore ITRs were filed till November 30 for the assessment year 2022-23, the Ministry informed.
With this, 61.79 percent of the budget estimates for the current fiscal have already been achieved, also 66.92 percent higher income tax refunds were issued till November 30 during the current fiscal, compared to the corresponding period of last year, official sources said.
Refunds amounting to Rs.2.15 lakh crore were issued between April 1 – November 30.
Problems faced with the e-filing portal notwithstanding, the Union Finance Ministry in a statement on Monday claimed that filing of ITRs was more user-friendly and smoother for the assessment year 2022-23. It said that a substantial portion of data was pre-filled, thus making compliance easier.
[With Inputs from IANS]
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