Net direct tax collections jump 20.7% to ₹13.7 lakh crore so far in FY24

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₹13.7 lakh crore till December in FY 2023-24. The net direct tax collections stood at ₹11,35,754 crore during the corresponding period a year ago, according to a statement released by the Ministry of Finance on Monday. Also Read: Fund flow today | FIIs sell Indian stocks worth ₹33.51 crore as markets decline Refunds amounting to ₹2,25,251 crore have been issued till December 17, 2023.

The Centre had collected net direct tax of ₹10.60 lakh crore till November 9, 2023. The net direct tax collection of ₹13,70,388 crore includes Corporation Tax (CIT) and Personal Income Tax (PIT) including Securities Transaction Tax (STT). The total sum of net direct tax consists of CIT at ₹6,94,798 crore (net of refund) and PIT including STT at ₹6,72,962 crore (net of refund).

Also Read: Twenty-six coal mines to go under hammer in 9th round of commercial auction The provisional figures of gross collection of direct taxes for the current financial year (till December 17) grew by 17.01% YoY. The present number of gross collection stood at ₹15,95,639 crore, compared to ₹13,63,649 crore in the corresponding period of the preceding financial year. Also Read: Women major beneficiaries of Mudra and Stand-Up India schemes The gross collection of ₹15,95,639 crore includes CIT at ₹7,90,049 crore and PIT including Securities Transaction Tax (STT) at ₹8,02,902 crore.

Minor head-wise collection comprises advance tax of ₹6,25,249 crore. Tax deducted at source (TDS) stood at ₹7,70,606 crore, whereas self-assessment tax was at ₹1,48,677 crore. Regular assessment tax came in at ₹36,651 crore, and tax under other minor heads of ₹14,455 crore.