Direct tax collections grows 17% to Rs 5.84 lakh cr so far this fiscal
New Delhi: Net direct tax collection in the current fiscal year up to August 10 stood at Rs. 5.84 lakh crore, 17.33% higher than the net collections for the corresponding period of last year.
The Income Tax department in a statement said direct tax collection, which include personal income tax and corporate tax, up to August 10, 2023, continue to register "steady growth".
On gross basis, Rs. 6.53 lakh crore direct taxes were collected, up 15.73% than the gross collections for the corresponding period of last year.
This collection is 32.03% of the total Budget Estimates of Direct Taxes for F.Y. 2023-24.
Refunds amounting to Rs 0.69 lakh crore were issued between 1st April, 2023 and 10th August, 2023, which are 3.73% higher than refunds issued during the same period in the preceding year.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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