Direct Tax Collections: Net direct tax collections for the current financial year till September 16 have increased by more than 23.51 per cent. Advance tax collections in the current financial year till mid-September increased by 21 per cent to Rs 3.55 lakh crore from Rs 2.94 lakh crore in the same period of the last financial year. In the current financial year, till mid-September, net direct tax collection has increased by 23.51 per cent to Rs 8.65 lakh crore. Giving this information on Monday, the Finance Ministry said that there has been a significant increase in direct tax collection due to more advanced tax payments by the companies.
Net direct tax collections of Rs 8,65,117 crore till September 16 include corporate income tax (CIT) of Rs 4,16,217 crore and personal income tax (PIT) of Rs 4,47,291 crore, the ministry said in a statement. Is included.
According to the statement, net direct tax collections for the current financial year till September 16 have increased by more than 23.51 per cent. Advance tax collections increased by 21 per cent to Rs 3.55 lakh crore in the current financial year till mid-September from Rs 2.94 lakh crore in the same period of the last financial year.
Advance tax collection till September 16 stood at Rs 3.55 lakh crore, of which CIT is Rs 2.80 lakh crore and PIT is Rs 74,858 crore. During the period under review, the Income Tax Department has issued refunds of about Rs 1.22 lakh crore. The ministry said that overall direct tax collections for the financial year 2023-24 increased by 18.29 per cent to Rs 9.87 lakh crore from Rs 8.34 lakh crore in the same period of the previous financial year.
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