India's Direct Tax Collection Jumps 18% To Rs 19.58 Lakh Crore, Exceeds Estimates In FY24
Refunds aggregating to Rs 3.79 lakh crore have been issued in FY 2023-24, the CBDT said
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Refunds aggregating to Rs 3.79 lakh crore have been issued in FY 2023-24, the CBDT said
At gross level, which is before adjusting for refunds, direct taxes collections for FY 2023-24 stood at Rs 23.37 lakh crore, a growth of 18.48 per cent over the gross collection of Rs 19.72 lakh crore in previous financial year.
The net direct tax collections (provisional) for the Financial Year (FY) 2023-24 have exceeded the Union Budget Estimates (BE) by Rs 1.35 lakh crore (7.40 per cent), the Ministry of Finance said on Sunday.
(This story has not been edited by THE WEEK and is auto-generated from a PTI
India Business News: Net direct tax collections experienced a significant increase of 17.7% year-on-year, reaching Rs 19.58 crore in the fiscal year that ended in March 20