Direct Tax Collections Surge to Rs 17 Lakh Crore, Exceeding 80% of 2023-24 Budget Estimates

The DirectTax collections have recorded over Rs 17 lakh crore in the current fiscal so far, which is about 17% higher than the gross collections for the same period last year. Finance Ministry says, this collection is over 80% of the total Budget estimates of Direct Taxes for 2023-24. The Ministry says, the growth rate for Corporate Income Tax is 8.32% and Personal Income Tax is over 26%. The refunds amounting to Rs 2,48,000 crore have been issued during the current fiscal so far.