Gross direct tax collection increased by 17.59 percent to Rs 12.37 lakh crore. Loktej Business News
[ad_1]
New Delhi, 10 November (Hindustan Reporter). There is good news on the economy front on the day of Dhanteras. The gross direct tax collection so far in the current financial year 2023-24 has increased by 17.59 percent to Rs 12.37 lakh crore. At the same time, net direct tax collection has increased by 22 percent to Rs 10.60 lakh crore. This collection is 58.15 percent of the total target set in the Union Budget.
The Finance Ministry said in a statement issued on Friday that till November 9, the total direct tax collection on gross basis has increased by 17.59 percent to Rs 12.37 lakh crore. Direct taxes include personal income tax and company tax. According to the ministry, the net direct tax collection after tax refund stood at Rs 10.60 lakh crore. This is 21.82 percent more than the tax collection in the same period of the last financial year.
Quoting the Income Tax Department, the ministry said that net company tax collection has increased by 12.48 percent and personal income tax has increased by 31.77 percent. Rs 1.77 lakh crore has been refunded to taxpayers between April 1 and November 9, 2023. Company tax collection increased by 7.13 percent during this period, while personal income tax increased by 28.29 percent.
It is noteworthy that in the Union Budget for the current financial year 2023-24, direct tax collection has been estimated at Rs 18.23 lakh crore. This is 9.75 percent more than Rs 16.61 lakh crore for the financial year 2022-23.
[ad_2]
Source link
