Net direct tax collection: Direct tax includes personal income tax and company tax. Company tax collection increased by 7.13 percent during this period while personal income tax increased by 28.29 percent. In the budget for the financial year 2023-24, direct tax collection is estimated to be Rs 18.23 lakh crore. This is 9.75 percent more than Rs 16.61 lakh crore for 2022-23.
Net direct tax collection : Net direct tax collection has increased by 22 percent so far in the current financial year to Rs 10.60 lakh crore. This is above 58 percent of the target set in the budget. The Income Tax Department said on Friday that net company tax collection increased by 12.48 percent and personal income tax by 31.77 percent.
The department said in the statement, ‘After tax refund, direct tax collection stood at Rs 10.60 lakh crore. This is 21.82 percent more than the tax collection in the same period last year.
According to the statement, ‘This collection is 58.15 percent of the total target set under direct tax collection for the financial year 2023-24.’ Rs 1.77 lakh crore has been returned to taxpayers between April 1 and November 9, 2023. On gross basis, direct tax collection increased by 17.59 percent to Rs 12.37 lakh crore.
Direct taxes include personal income tax and company tax. Company tax collection increased by 7.13 percent during this period while personal income tax increased by 28.29 percent. In the budget for the financial year 2023-24, direct tax collection is estimated to be Rs 18.23 lakh crore. This is 9.75 percent more than Rs 16.61 lakh crore for 2022-23.
