HomeEconomicsTo date in FY23, gross direct tax collections have increased by 31%...

To date in FY23, gross direct tax collections have increased by 31% to 10.54 lakh crore.

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  • According to the Finance Ministry, India’s gross direct tax receipts increased by 31% year over year to 10.54 lakh crore as of November 10 of FY23.
  • After accounting for refunds, net direct tax collections—which include personal and business taxes—rose by 25.7% to $8.71 lakh crore.
  • Taxes on both corporate and individual income increased by 22.03% and 40.64%, respectively.

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