Gross Direct Tax collection has registered a growth of 18.74 percent during the current Financial Year. According to the Finance Ministry, gross direct tax collection stands at over 22 lakh 27 thousand crore rupees which is more than 18 lakh 75 thousand crore rupees reported in the corresponding period of financial year 2022-23.
The Gross collection includes Corporation Tax, Personal Income Tax, and Securities Transaction Tax among others. Over 10 lakh 98 thousand crore rupees were collected as Corporation Tax while the Personal Income Tax including Securities Transaction Tax was reported over 11 lakh 25 thousand crore rupees. Advance Tax collection stands at over nine lakh 11 thousand crore rupees.
The Finance Ministry said, refunds amounting to three lakh 36 thousand 808 crore rupees have also been issued in the Financial Year 2023-24 which is 12.74 percent higher in comparison to the refunds issued during the same period in the preceding year.
