In the current financial year, till March 17, net direct tax collection has increased by 19.88 percent to more than Rs 18.90 lakh crore. The Income Tax Department gave this information on Tuesday. Income tax department body Central Board of Direct Taxes (CBDT) said in a statement that the total direct tax collection till March 17 stood at Rs 18,90,259 crore, which included Rs 9,14,469 crore from corporate tax and Rs 9,72,224 crore from personal income tax. Securities Transaction Tax (STT) is also included.
Gross tax collection crosses Rs 22 lakh crore
In the report released by PIB, it was said that the gross direct tax collection for the financial year 2023-24 has increased to Rs 22,27,067 crore (including refunds). Which was Rs 18,75,535 crore in the same period last year. The gross direct tax collection of Rs 22,27,067 crore includes corporate tax of Rs 10,98,183 crore and personal income tax (STT) to Rs 11,25,228 crore.
Refund of Rs 3.37 lakh crore issued
Refunds worth about Rs 3.37 lakh crore have also been issued till March 17 in the current financial year. Total direct tax collections before refund adjustments on gross basis stood at Rs 22.27 lakh crore. This is 18.74 percent more than the same period a year ago.
CBDT said the provisional figures of direct tax collections till March 17 in the financial year 2023-24 show that the net tax collection is Rs 18,90,259 crore as against Rs 15,76,776 crore in the same period of the last financial year. This is 19.88 percent more than the financial year 2022-23. In the revised estimate of direct tax collections, the government has expected receipts for the entire financial year to be Rs 19.45 lakh crore.
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