Net direct tax mop-up over Rs 3.39 trillion

Mumbai : The net direct tax collections till mid-June this fiscal increased 45 per cent to over Rs 3.39 lakh crore, buoyed by decent advance tax mop-up, the Income Tax department said on Friday. The net direct tax collection of over Rs 3.39 lakh crore includes Corporation Tax (CIT) at over Rs 1.70 lakh crore and Personal Income Tax (PIT), including Security Transaction Tax (STT), at over Rs 1.67 lakh crore. The figures of Direct Tax collections for the Financial Year 2022-23, as on June 16, 2022, show that net collections are at Rs 3,39,225 crore compared to Rs 2,33,651 crore over the corresponding period of the preceding year, representing an increase of 45 per cent over the collections of the preceding year,” the Central Board of Direct Taxes (CBDT) said.