Direct Tax Collections Reach Rs. 6.53 Lakh Crore, Marking 15.73% Growth by Aug 10, 2023



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Direct tax collections for the financial year 2023-24 have shown robust growth, reaching Rs 6.53 lakh crore by August 10, 2023. This represents a significant 15.73% increase compared to the same period last year. Net collections, after accounting for refunds, stand at Rs 5.84 lakh crore, up by 17.33%. These figures indicate that 32.03% of the total budget estimates for direct taxes have already been met.

Direct Tax Collections for F.Y. 2023-24 up to 10.08.2023 Theprovisionalfigures of Direct Tax collections up to 10thAugust, 2023 continue to register steady growth. Direct Tax collections up to 10thAugust, 2023 show thatgross collections are at Rs. 6.53 lakh crore which is 15.73% higherthan the gross collections for the corresponding period of last year. Direct Tax collection, net of refunds, stands at Rs.5.84 lakhcrore which is17.33%higher than the net collections for the corresponding period
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FAQ :

The provisional gross direct tax collections up to August 10, 2023, amount to Rs 6.53 lakh crore.

Gross direct tax collections have grown by 15.73% compared to the corresponding period of the previous year.

Net direct tax collections, after deducting refunds, stand at Rs 5.84 lakh crore.

Net direct tax collections have shown a growth of 17.33% compared to the same period last year.

Refunds amounting to Rs 0.69 lakh crore have been issued between April 1, 2023, and August 10, 2023.

The current collection represents 32.03% of the total Budget Estimates for Direct Taxes for the financial year 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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