Net Direct Tax Collections Stand At Rs 5.84 Lakh Crore, 17% Higher Than Last Fiscal

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New Delhi: Net direct tax collection for the current financial year is Rs 5.84 lakh crore, which is 17.33 percent more than net collections recorded during the corresponding period of last year, the Finance Ministry said on Friday. The collections are 32.03 percent of the total budget estimates of direct taxes for 2023-24

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In a statement, the Finance Ministry said that the collections from direct taxes, which include personal income tax and corporate tax, up to August 10, 2023, continue to register “steady growth”.

On a gross basis, direct tax collection grew 15.73 percent to Rs 6.53 lakh crore till August 10 in the current fiscal, while refunds worth Rs 69,000 crore have been issued till date, which are 3.73 percent higher than last year.

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India collects direct taxes mainly through corporate and personal income tax.