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Gross Direct Tax Collections Soared To Rupees 22,27,067 Crore In FY 2023-24

Gross Direct Tax receipts in FY 2023-24 increased by 18.74% over the previous year to Rs. 22,27,067 crore. Net collections increased by more than 19.88%, with Advance Tax contributions of Rs. 9,11,534 crore, up 22.31%, indicating strong economic growth.

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Gross Direct Tax Collections Soared To Rupees 22,27,067 Crore In FY 2023-24

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  1. Gross Direct Tax Collections Soared To Rupees 22,27,067 Crore In FY 2023-24 DESCRIPTION Gross Direct Tax receipts in FY 2023-24 increased by 18.74% over the previous year to Rs. 22,27,067 crore. Net collections increased by more than 19.88%, with Advance Tax contributions of Rs. 9,11,534 crore, up 22.31%, indicating strong economic growth. Gross Direct Tax Collections ● Total Gross Collections- Rs. 22,27,067 crore, up 18.74% from the previous year's Rs. 18,75,535 crore. ● Composition- Rs. 10,98,183 crore in Corporation Tax (CIT) and Rs. 11,25,228 crore in Personal Income Tax (PIT), inclusive of Securities Transaction Tax (STT). Net Direct Tax Collections ● Total Net Collections- It stood at Rs. 18,90,259 crore, up 19.88% from the previous year's Rs. 15,76,776 crore. ● Details- After accounting for refunds, the total includes Rs. 9,14,469 crore from CIT and Rs. 9,72,224 crore from PIT. Advance Tax Collections ● Overall Growth- Advance tax receipts rose by 22.31% to Rs. 9,11,534 crore. ● Breakdown- Corporation tax provided Rs. 6,72,899 crore, while personal income tax supplied Rs. 2,38,628 crore. Tax Refunds

  2. ● Amount Issued- Refunds for FY 2023-24 totaled Rs. 3,36,808 crore, up 12.74% over the previous year's Rs. 2,98,758 crore. Welcome to Notopedia.com, your free learning platform that caters to the diverse needs of students and aspirants across a spectrum of entrance exams and educational endeavors. Whether you're preparing for highly anticipated exams like CAT 2023, NEET 2023, JEE Main, or bank job vacancies, our platform offers a wealth of resources to guide you towards success. Stay up-to-date with the latest exam dates, announcements, and results for various government recruitment exams, including SSC CGL, CHSL, NDA, and UPSC. Explore comprehensive study materials, sample papers, and exam patterns to hone your skills and boost your confidence. From important dates like CBSE Class 10 and 12 date sheets to exam-specific information like JEE Main 2023 application form date, we cover it all. Notopedia.com is your go-to source for everything from admissions and admit cards to scholarships and college information. Whether you're aiming for a career in defense, government, banking, or higher education, our free learning platform equips you with the knowledge and resources you need to excel. Join us in your educational journey and unlock a world of opportunities, guidance, and comprehensive support. For more Updates and Information - Visit Notopedia's Bulletin Board For Latest Sarkari Jobs - Visit Notopedia's Sarkari Jobs Section For access to more than 20,000 Colleges - Visit Notopedia's College Section For School Studies and Exams Preparation across 14 Boards - Visit Notopedia's School Section For Comprehensive Preparation of Sarkari Job Exams - Visit Notopedia's Sarkari Exams Section

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