Gross Direct Tax Collections of Rs. 12.37 Lakh crore for FY 2023-24:

Gross Direct Tax Collections of Rs. 12.37 Lakh crore for FY 2023-24 The provisional figures of Direct Tax collections up to 09th November, 2023 continue to register steady growth. The Gross Direct Tax collections are at Rs. 12.37 lakh crore, which is 17.59% higher than the gross collections for the corresponding period of last year. Direct tax collection, net of refunds, stands at Rs. 10.60 lakh crore, a 21.82% increase over net collections for the same period previous year. This collection represents 58.15% of the total Budget Estimated Direct Taxes for the financial year 2023-24. In terms of gross revenue collections, the growth rate for Corporate Income Tax (CIT) is 7.13%, while the growth rate for Personal Income Tax (PIT) is 28.29% (PIT only)/ 27.98% (PIT including Securities Transactions Tax (STT)). After refunds are deducted, the net growth in CIT collections is 12.48%, while the net growth in PIT collections is 31.77% (PIT only)/ 31.26% (PIT plus STT). Between April 1st, 2023 and November 9th, 2023, refunds of Rs. 1.77 lakh crore were granted.