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of <h1>Direct Tax Collections Exceed Budget Estimates by Rs 2.41 Lakh Crore, Growing 16.97% in FY 2022-23.</h1> Direct tax collections for the financial year 2022-23 surpassed the Union Budget Estimates by Rs 2.41 lakh crore, a 16.97% increase. The net collections reached Rs 16.61 lakh crore, marking a 17.63% growth from the previous year. Gross collections stood at Rs 19.68 lakh crore, a 20.33% rise. Corporate tax collections grew by 16.91% to Rs 10.04 lakh crore, while personal income tax collections, including STT, increased by 24.23% to Rs 9.60 lakh crore. Refunds issued amounted to Rs 3,07,352 crore, a 37.42% increase from the previous year.
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