Net direct tax collection rises 18% year-over-year in FY23, announces government

In FY22, the government had collected Rs 14.12 trillion as net direct tax. Personal income and corporate tax make up most of the country's direct tax mop up.

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New Delhi: The government’s direct tax collection rose about 18 per cent to 16.61 trillion rupees ($201.88 billion) in the year ended March 31, it said in a statement.

In 2021/22, the government had collected 14.12 trillion rupees as net direct tax.

Personal income and corporate tax make up most of the country’s direct tax mop up. Gross corporate tax collected in 2022/23 grew 17 per cent from last year to 10.04 trillion rupees, while personal income tax rose 24 per cent year on year to 9.61 trillion rupees.

($1 = 82.2780 Indian rupees)

(Reporting by Nikunj Ohri; Editing by Shounak Dasgupta)

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