Tax collections up by 24% in current fiscal year-on-year

With this, 61.79 per cent of the budget estimates for the current fiscal have already been achieved, official sources said.

IANS

Updated:12th Dec, 2022 at 1:13 PM

NEW DELHI: Net tax collection in 2022-23 was 24.26 per cent higher than the net collection for the corresponding period of last year.

With this, 61.79 per cent of the budget estimates for the current fiscal have already been achieved, official sources said.

Also 66.92 per cent higher income tax refunds were issued till November 30 during the current fiscal, compared to the corresponding period of last year.

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 the substantial portion of data was pre-filled, thus making compliance easier.

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.

Tax collections up by 24% in current fiscal year-on-year

With this, 61.79 per cent of the budget estimates for the current fiscal have already been achieved, official sources said.

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