NEW DELHI:
Net direct tax collection
so far in the current
fiscal
grew 20% year-on-year to Rs 15.6 lakh crore, which is 80% of revised Budget estimates for full fiscal year.
"The provisional figures of
direct tax
collections continue to register steady growth. Direct tax collections up to Feb 10, 2024 show that gross collections are at Rs 18.4 lakh crore, which is 17.3% higher than the gross collections for the corresponding period of last year," Central Board of Direct Taxes said in a statement.
Direct tax collection, net of refunds, till Feb 10 of FY24 stands at Rs 15.6 lakh crore, which is 20.3% higher than the year-ago period.
This collection is 80.2% of the total revised estimates of direct taxes for 2023-24.
Refunds amounting to Rs 2.8 lakh crore have been issued during April 1, 2023 to Feb 10, 2024.
Gross revenue collections for corporate income tax (CIT) and personal income (PIT) tax also showed a steady growth. Growth rate for CIT was 9.2% while for PIT, it was 25.7% (PIT only).
After adjustment of refunds, the net growth in CIT collections was 13.6% and that in PIT was 26.9% (PIT only), it added.
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