Net direct tax collections in FY23 surge 23% YoY to over ₹7 lakh cr

Net direct tax collections in FY23 have surged 23% YoY to over ₹7 lakh crore against ₹5.68 lakh crore collected in FY22, according to data from the Central Board of Direct Taxes. While ₹3.68 lakh crore was collected as corporation tax, ₹3.30 lakh crore was collected as income tax. Refunds worth ₹1.35 lakh crore have been issued till September 17.