Direct Tax Collections Reach Rs 18.38 Lakh Crore, Surge 17.30% YoY



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Direct tax collections have shown robust growth, reaching £18.38 lakh crore as of 10th February 2024. This represents a significant 17.30% year-on-year increase in gross collections. Net collections, after accounting for refunds, stand at £15.60 lakh crore, marking an even more impressive 20.25% rise compared to the previous year. These figures indicate that collections have reached 80.23% of the revised estimates for the fiscal year 2023-24.

Direct Tax collections at 80.23% of total Revised Estimates of Direct Taxes for F.Y. 2023-24 upto 10.02.2024 Gross Direct Tax collections at Rs. 18.38 lakh crore with Y-o-Y growth of 17.30%, as on 10th February, 2024 Direct Tax collection, Net of refunds, stands at Rs. 15.60 lakh crore with Y-o-Y growth of 20.25% Net Corporate Income Tax (CIT) grows at 13.57% and Net Personal Income Tax (PIT) grows 26.91% Y-o-Y respectively Refunds worth Rs. 2.77 lakh crore issued during 1st April, 2
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FAQ :

Gross direct tax collections up to 10th February 2024 stand at £18.38 lakh crore.

Gross direct tax collections have seen a year-on-year growth of 17.30%.

Net direct tax collections, after the adjustment of refunds, are £15.60 lakh crore.

Net direct tax collections have grown by 20.25% year-on-year.

Refunds amounting to £2.77 lakh crore have been issued between 1st April 2023 and 10th February 2024.

The direct tax collections have reached 80.23% of the total Revised Estimates for FY 2023-24.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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