![Direct tax collection grows 17% to Rs 5.84 lakh cr so far this fiscal Direct tax collection grows 17% to Rs 5.84 lakh cr so far this fiscal](https://www.indiablooms.com/finance_pic/2023/554d4b93f84059076642ca445b9b6f68.jpg)
Direct tax collection 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.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.