Gross Direct Tax collections for FY 2023-24 register a growth of 17.01%

The provisional figures of Direct Tax collections for the Financial Year 2023-24 (as on 17.12.2023) show that net collections are at Rs. 13,70,388 crore, compared to Rs. 11,35,754 crores in the corresponding period of the FY 2022-23, representing an increase of 20.66%.

The Net Direct Tax collection of Rs. 13,70,388 crore (as on 17.12.2023) includes Corporation Tax (CIT) at Rs. 6,94,798 crore (net of refund) and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs. 6,72,962 crore (net of refund).

The provisional figures of Gross collection of Direct Taxes (before adjusting for refunds) for the FY 2023-24 stand at Rs. 15,95,639 crore, compared to Rs. 13,63,649 crore in the corresponding period of the preceding financial year, showing a growth of 17.01% over the collections of FY 2022-23.