12.4 C
London
Wednesday, September 28, 2022

Gross collected direct taxes increase by 30%

Must read

Razorpay Enters Loyalty and Rewards Segment with PoshVine Acquisition

Payment service provider Razorpay has announced the acquisition of PoshVine, a loyalty and rewards management platform.This marks Razorpay's entry into the loyalty and rewards...

Jolie Poirier

Jolie Poirier is a 33-year-old Instagram model, influencer, businesswoman and philanthropist. This versatile woman is better known as the wife of former Interim...

Hurricane Ian heads for Florida as ‘extremely dangerous major hurricane’

Hurricane Ian remained on Florida's Gulf coast on Tuesday as an "extremely dangerous major hurricane" after shutting power to all of Cuba, officials said.The...

Roundtable aims to bring AngelList-style syndicates to Europe • londonbusinessblog.com

Meet Round tablea new startup supported by eFounders that aims to bring community-driven angel investment to European startups. The company has built a...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

  • Rapid processing of income tax returns (ITRs), processing nearly 93 percent of duly verified ITRs.
  • The net direct tax collections were ₹7.01 lakh crore before the current tax till 17th September.
  • The cumulative withholding tax collections were ₹ 2.95 lakh crore until September 17 in 2022-23, a 17 percent growth from 2021.


Gross direct tax collections up to 2022-23 as on September 17 stood at ₹8.36 lakh crore, a growth of 30 percent over collections of the corresponding period of last year.

Net direct tax collections were ₹7.01 lakh crore for the current fiscal period to September 17, up 23 percent from the corresponding period last year.

Cumulative withholding tax collections amounted to ₹2.95 lakh crore through September 17, 2022-23, up 17 percent from the corresponding period last year, according to data released by the Ministry of Finance.

Until September 17, repayments of ₹1.35,556 crore were made, an increase of 83 percent from last year.

Rapid processing of income tax returns (ITRs), with nearly 93 percent of duly verified ITRs processed through Saturday.

A faster issuance of refunds was initiated, increasing the number of refunds by nearly 468 percent in 2022-23, the statement said.

SEE ALSO: China’s chip output shrinks as India and US ramp up local production

IDBI Trustee Asks ​RCap Administrator to Withdraw Confidentiality Breach Allegations

Domestic Disagreements, Addiction The Main Causes Of Suicides

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Razorpay Enters Loyalty and Rewards Segment with PoshVine Acquisition

Payment service provider Razorpay has announced the acquisition of PoshVine, a loyalty and rewards management platform.This marks Razorpay's entry into the loyalty and rewards...

Jolie Poirier

Jolie Poirier is a 33-year-old Instagram model, influencer, businesswoman and philanthropist. This versatile woman is better known as the wife of former Interim...

Hurricane Ian heads for Florida as ‘extremely dangerous major hurricane’

Hurricane Ian remained on Florida's Gulf coast on Tuesday as an "extremely dangerous major hurricane" after shutting power to all of Cuba, officials said.The...

Roundtable aims to bring AngelList-style syndicates to Europe • londonbusinessblog.com

Meet Round tablea new startup supported by eFounders that aims to bring community-driven angel investment to European startups. The company has built a...

YC-backed fintech Numida raises $12.3 million led by Serena Ventures to provide loans to SMEs outside Uganda • londonbusinessblog.com

Micro, small and medium-sized enterprises (SMEs) across Africa make up the bulk — over 90% — of the continent's businesses, but are still marginalized...