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Updated February 11th, 2024 at 15:47 IST

Direct tax growth at 17.30% till Feb 10 of FY24: Govt

Direct tax collection, net of refunds, stands at Rs 15.60 lakh crore, which is 20.25% higher than the net collections for the corresponding period of last year.

Reported by: Business Desk
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Direct tax collection: Direct tax collections up to February 10, 2024 show that gross collections are at Rs 18.38 lakh crore which is 17.30 per cent higher than the gross collections for the corresponding period of last year, the provisional figure showed on Sunday. The figures released showed that the government's gross tax collection is on a steady rise.

Direct tax collection, net of refunds, stands at Rs 15.60 lakh crore, which is 20.25 per cent higher than the net collections for the corresponding period of last year. This collection is 80.23 per cent of the total Revised Estimates of Direct Taxes for FY 2023-24.

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The gross revenue collections for Corporate Income Tax (CIT) and Personal Income Tax (PIT) also show steady growth.The growth rate for CIT is 9.16 per cent while that for PIT is 25.67 per cent (PIT only)/ 25.93 per cent (PIT including STT). After adjustment of refunds, the net growth in CIT collections is 13.57 per centand that in PIT collections is 26.91 per cent (PIT only)/ 27.17 per cent (PIT including STT).

Refunds amounting to Rs 2.77 lakh crore have been issued during 1st April, 2023 to February 10, 2024.

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Published February 11th, 2024 at 15:47 IST

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