Net direct tax collection swells 20.66% to Rs 13.70 lakh crore in current fiscal so far: CBdT
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The Central Board of Direct Taxes (CBdT) has said net direct tax collections grew by 20.66 per cent to over Rs 13.70 lakh crore (provisional) in the current fiscal so far as compared to Rs 11,35,754 crore in the corresponding period of the preceding Financial Year.
The net direct tax collection of Rs 13,70,388 crore (as of December 17, 2023 ) includes Corporation Tax (CIT) at Rs 6.95 lakh crore and Personal Income Tax (PIT), including Securities Transaction Tax at Rs 6.73 lakh crore. Refunds of over Rs 2.25 lakh crore have also been issued in the FY 2023-24 till December 17, 2023. He further said the gross collection of over Rs 15.95 lakh crore includes CIT at Rs 7.90 lakh crore and PIT at about Rs 8.03 lakh crore.
The net direct tax collections have touched 75 per cent of budget estimates of direct tax mop-up in the current fiscal. In the current fiscal, Rs 18.23 lakh crore is expected to be collected in direct taxes which includes personal income tax and corporate tax.
