Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

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New Delhi, 11 th March, 2023

PRESS RELEASE

Direct Tax Collections for F.Y. 2022-23 up to 10.03.2023

The provisional figures of Direct Tax collections up to 10 th March, 2023 continue to register steady growth. Direct Tax collections up to 10 th March, 2023 show that gross collections are at Rs. 16.68 lakh crore which is 22.58% higher than the gross collections for the corresponding period of last year. Direct Tax collection, net of refunds, stands at Rs. 13.73 lakh crore which is 16.78% higher than the net collections for the corresponding period of last year. This collection is 96.67% of the total Budget Estimates and 83.19% of the Total Revised Estimates of Direct Taxes for F.Y. 2022-23.

So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 18.08% while that for PIT (including STT) is 27.57%. After adjustment of refunds, the net growth in CIT collections is 13.62% and that in PIT collections is 20.73% (PIT only)/ 20.06% (PIT including STT).

Refunds amounting to Rs.2.95 lakh crore have been issued during 1 st April, 2022 to 10 th March 2023, which are 59.44% higher than refunds issued during the same period in the preceding year.

(Surabhi Ahluwalia)

Pr. Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT.

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Press Information Bureau
Government of India
Ministry of Labour & Employment

Dated: 04 MAR 2023

EPFO making all-out efforts to publicize the process of joint option which can be submitted online till 03rd May, 2023

The online joint (employee and employer) option form with the necessary documents has been hosted by EPFO in the unified portal for contributing on higher salary to the EPS-95. The form paves the way for giving effect to the SC order dated 04.11.2022, while adhering to the basic scheme provisions. More than 8,000 members have already applied online as on date though the submission deadline is 03^rd May, 2023.

Since, the contributions of both the employee and employer on higher wages are involved, the EPF and EPS-95 schemes require the joint request when they contribute on higher salary. This is not a new requirement and predates the EPS-95 and the position has been affirmed by SC in the RC Gupta case stating that it is a necessary pre-cursor for exercising joint option on higher salary under EPS.

The circular dated 20^th February 2023 adheres to the provisions of the Scheme and complies with the Supreme Court orders. The correct assessment of contributions and their deposit and diversion to Pension Fund, the past services rendered and the remittances made are necessary for correct calculation of the benefits and valuation of the Pension Fund.The EPFO closed the options on 4^th of March 2023 for the retired EPS members (prior to 01.09.2014 and whose options were not considered earlier). It has received 91,258 online applications from this category of employees as on 04.03.2023.

EPFO has been making all-out efforts to publicize the process of joint option which can be submitted online till 03rd May, 2023. In respect of persons who were EPF members as on 01.09.2014, The online applications are being preferred by the employees since 27^th February,2023 and already 8,897 members have applied to their employers.

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MJPS

Ministry of Finance

PM to address 12 post-budget webinars to be held between 23rd February and 11th March

Webinars are being organised by various Ministries/Departments to build on the “Saptarishi” Priorities outlined in the Union Budget 2023-24

Idea of post budget webinars was conceptualised by PM to bring together all stakeholders for bringing synergy in implementation of Budget announcements

Dated: 22 FEB 2023

Prime Minister Shri Narendra Modi will address 12 post-budget webinars which will be held between 23^rd February and 11^th March, 2023. These webinars are being organised by various Ministries/Departments to build on the “Saptarishi” Priorities outlined in the Union Budget 2023-24.

The government under the visionary leadership of Prime Minister has undertaken several budgetary reforms in the past few years. The date of budget was preponed to 1st February so that Ministries and Departments get sufficient time for utilisation of the funds on the ground before the onset of monsoons. Another step towards bringing in reforms in budget implementation was the novel idea of Post Budget Webinars. This idea was conceptualised by the Prime Minister to bring together experts from the public and private sectors, academia, industry and practitioners on the field on a single platform and collaboratively work on implementation strategies across sectors. These webinars were started in 2021 in the spirit of Jan Bhagidari and encourage involvement and ownership of all concerned stakeholders in effective, quick and seamless implementation of the Budget announcements.

The webinars will be focussed on synergising efforts of various Ministers and Departments and all concerned stakeholders towards preparation of action plans with quarterly targets so that the implementation is front ended and smooth with timely achievement of intended outcomes. They are being held virtually to ensure wide participation. They will be attended by concerned Union Ministers, key stakeholders from Government departments, Regulators,  Academia, Trade and Industry associations etc.

The Schedule of webinars is as follows-

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RM/PPG/KMN

(Release ID: 1901495)