Winning Bizness Desk

Mumbai. Here is a good news on the economic front of the country as there has been a record increase in direct tax of the central government and till August 10, a whopping 6.53 lakh crore rupees have been collected through this. Compared to last year, this year's direct tax has increased by 15.73 percent. Compared to the actual tax collection in this year's budget, this amount is 32.02 percent, the Finance Ministry has said. If the refund made to the tax payers is deducted from this, the net tax has been collected at Rs 5.84 lakh crore. This amount is 17.33 percent higher than last year. According to data released by the Finance Ministry, in the current financial year till August 10, net direct tax collection is 17.33 percent higher than the previous year. At the same time, this figure is 32.03 percent of the budget for the entire financial year. This means more than 32 per cent of the government's estimated revenue for the entire financial year 2023-24 has reached the exchequer till August 10.

Issued more refunds than before

The government has also said that more refunds have been issued to taxpayers in the current financial year. The government has refunded a total of Rs 0.69 lakh crore to the taxpayers from April to August 10, 2023. This ratio is 3.73 percent higher than the returns issued during the same period last financial year.

Record ITR filings this year, up 16 percent

This year there has been a record increase in the number of income tax return filers. A total of 6.77 crore taxpayers have filed income tax returns till July 31, 2023. The Income Tax Department has given this information. A total of 6.77 crore ITRs were filed in assessment year 2023-24 while in 2022-23 a total of 5.83 crore ITRs were filed till 31 July 2022. This means 16.1 per cent more income tax returns have been filed in 2023-24 as compared to assessment year 2022-23. The Income Tax Department said that on July 31, 2023, 64.33 lakh income tax returns were filed in a single day. 53.67 lakh people have filed income tax returns for the first time. This is said to be an indication of a good increase in the number of tax bases.