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Robust Growth in Advance Tax Collection Signals Economic Resilience In a significant development, the advance tax collection for direct taxes has demonstrated an impressive surge, marking a substantial 19.76% growth compared to the previous year. The data for December 2023 showcases a noteworthy collection of Rs 6,24,329 lakh crore, reflecting the resilience and vitality of the business sector in the face of economic challenges. Key Highlights Staggering Overall Growth The advance
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FAQ :
Advance tax collection for direct taxes saw a robust growth of 19.76% compared to the previous year.
The collection in December 2023 reached Rs 6,24,329 lakh crore.
Corporate advance tax experienced a notable growth rate of 21.11%.
Advance personal tax collections increased by 15.26% year-on-year.
The surge indicates the resilience and vitality of the business sector and a positive trend in personal incomes, signalling economic growth.
The overall net collection witnessed a substantial growth of 20.53% compared to the preceding year, reaching Rs 13.68 lakh crore.
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