Net Direct Tax collections (provisional) for 2023-24 exceed Union Budget Estimates by Rs 1.35 lakh crore (7.40%)
Net Direct Tax collections (provisional) for the FY 2023-24 exceed Revised
Estimates by Rs. 13,000 crore
Gross Direct Tax collections (provisional) for FY 2023-24 stand at Rs. 23.37
lakh crore registering a growth of 18.48% Year-on-Year (Y-o-Y)
Net Direct Tax collections (provisional) for the FY 2023-24 stand at Rs. 19.58
lakh crore marking a growth of 17.70% Y-o-Y
Refunds aggregating to Rs. 3.79 lakh crore issued in FY 2023-24
Posted On: 21 APR 2024 1:01PM by PIB
Delhi
The provisional figures of Direct Tax collections
for the Financial Year (FY) 2023-24 show that Net collections are at
Rs. 19.58 lakh crore, compared to Rs. 16.64 lakh crore in
the preceding Financial Year i.e. FY 2022-23, representing an increase
of 17.70%.
The Budget Estimates (BE) for Direct Tax revenue in
the Union Budget for FY 2023- 24 were fixed at Rs. 18.23 lakh crore which were
revised and the Revised Estimates (RE) were fixed at Rs. 19.45 lakh crore. The
provisional Direct Tax collections (net of the refunds) have exceeded the BE
by 7.40% and RE by 0.67%.
The Gross collection (provisional) of
Direct Taxes (before adjusting for refunds) for the FY 2023-24 stands at Rs.
23.37 lakh crore showing a growth of 18.48% over the
gross collection of Rs. 19.72 lakh crore in FY 2022-23.
The Gross Corporate Tax collection
(provisional) in FY 2023-24 is at Rs. 11.32 lakh crore and
has shown a growth of 13.06% over the gross corporate tax
collection of Rs. 10 lakh crore of the preceding year. The Net
Corporate Tax collection (provisional) in FY 2023- 24 is at Rs.
9.11 lakh crore and has shown a growth of 10.26% over
the net corporate tax collection of Rs. 8.26 lakh crore of the preceding year.
The Gross Personal Income Tax collection
(including STT) (provisional) in FY 2023- 24 is at Rs. 12.01 lakh crore and
has shown a growth of 24.26% over the Gross Personal Income
Tax collection (including STT) of Rs. 9.67 lakh crore of the preceding year.
The Net Personal Income Tax collection (including STT)
(provisional) in FY 2023-24 is at Rs. 10.44 lakh crore and has
shown a growth of 25.23% over the Net Personal Income Tax
collection (including STT) of Rs. 8.33 lakh crore of the preceding year.
Refunds of Rs. 3.79 lakh crore have
been issued in the FY 2023-24 showing an increase of 22.74% over
the refunds of Rs. 3.09 lakh crore issued in FY 2022-23.