Net direct tax collection grows 19% in FY'24 navhindtimes.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from navhindtimes.in Daily Mail and Mail on Sunday newspapers.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth, the Central Board of Direct Taxes (CBDT) said in a statement.
Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
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At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget.
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