Direct tax collection for 2023-24 rises 11%; stands at Rs.3,79,760 crore

Net direct tax collection of Rs.3,79,760 cr included CIT at Rs.1,56,949 cr net of refund & PIT including securities transaction tax at Rs.2,22,196 cr (net of refund)

PGurus Newsdesk

June 18, 2023

Net direct tax collection of Rs.3,79,760 cr included CIT at Rs.1,56,949 cr net of refund & PIT including securities transaction tax at Rs.2,22,196 cr (net of refund)

Gross Direct Tax collections for the financial year 2023-24 register a growth of 12.73%

Direct tax collections for 2023-24, as on June 17, stood at Rs.3,79,760 crore, compared to Rs.3,41,568 crore in the corresponding period of the last fiscal, representing an increase of 11.18 percent.

The net direct tax collection of Rs.3,79,760 crore included corporation tax (CIT) at Rs.1,56,949 crore (net of refund) and personal income tax (PIT) including securities transaction tax (STT) at Rs.2,22,196 crore (net of refund).

The gross collection of direct taxes (before adjusting for refunds) for 2023-24 stands at Rs.4,19,338 crore as compared to Rs.3,71,982 crore in the corresponding period of last fiscal, registering a growth of 12.73 percent over collections of 2022-23.

The advance tax collections for the first quarter of 2023-24 stand at Rs.1,16,776 crore as on June 17, against advance tax collections of Rs.1,02,707 crore for the corresponding period of the immediately preceding fiscal i.e. 2022-23, showing a growth of 13.70 percent.

[With Inputs from IANS]

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