Winning Bizness Desk
Mumbai. The effect of the Modi government's efforts to increase the tax collection is now visible. If we look at the tax collection done till February 10, 2023 in the current financial year 2022-23, the taxpayers of the country have made the record of paying the highest tax ever. Including income tax and corporate tax, 91.39 percent of the total budget estimate of the government has been collected from direct tax. The Finance Ministry informed on Saturday that till February 10 this year, its direct tax collection has increased by 24.09 per cent as compared to the same period last year. At the same time, after removing the refund, an increase of 18.40 percent has been seen in the tax collection of the government.
More than 15 lakh crore collected
According to statistics, till February 10, 2023, the gross direct tax collection of the government has been Rs 15.67 lakh crore. After removing the income tax refund from this, its collection has been Rs 12.98 lakh crore. Not only this, it is 91.39 percent of the tax collection estimate of the government's last budget. At the same time, it is 78.65 percent of the revised estimate of direct tax. Direct tax is collected in the country in two ways. One in the form of corporate tax, the other in the form of individual's income tax. Now if we look at the latest figures, the growth of corporate income tax has been 19.33 percent this year, while a growth of 29.63 percent has been recorded in the income tax paid by the common man.
2.69 lakh crore refunded
The government has also given the details of the amount refunded during the period from 1 April 2022 to 10 February 2023. During this period, the government has processed refund applications worth Rs 2.69 lakh crore, which is 61.58 percent more than the same period last year. After accounting for refunds, the growth of corporate tax collection has been 15.84 percent, while the growth rate of common man's tax collection has been 21.93 percent.