Direct Tax Collection The government has made a bumper income from this. This information has been received from the data of the Income Tax Department. The Income Tax Department said on Tuesday that in the current financial year so far, the net direct tax collection has risen by 21 percent to Rs 4.62 lakh crore. The increase in advance tax collection has contributed a lot to this. The first installment of advance tax was due on June 15. This collection has risen by 27.34 percent to Rs 1.48 lakh crore. This includes corporate tax (CIT) of Rs 1.14 lakh crore and personal income tax (PIT) of Rs 34,470 crore.
Refunds worth Rs 53,322 crore were also issued
The Central Board of Direct Taxes (CBDT) said in a statement that the net direct tax collection of Rs 4,62,664 crore (till June 17, 2024) includes CIT of Rs 1,80,949 crore and PIT (including securities transaction tax) of Rs 2,81,013 crore. Refunds of Rs 53,322 crore have also been issued till June 17 in the financial year 2024-25. This is 34 per cent more than the refunds issued during the same period last year. The gross collection of direct taxes (before adjustment for refunds) during April 1 to June 17 this year increased by 22.19 per cent year-on-year to Rs 5.16 lakh crore.
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