The government collected â¹16.61 trillion in direct taxes after refunds in FY23, a 17.6% improvement over takings in the preceding year, the Central Board of Direct Taxes (CBDT) said on Monday, quoting provisional figures.
The government’s revised estimate for the just-concluded financial year was â¹16.5 trillion. The income tax department gave tax refunds of over â¹3 trillion in FY23. The double-digit growth in tax collection is along expected lines.
Gross direct tax collections for FY23 before adjusting for tax refunds stood at â¹19.68 trillion, a growth of 20.33%, CBDT said.
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