16% Increase in Direct Tax Collections to ₹6.53 Lakh Crore in Current Fiscal

  • The Income Tax department reported a steady growth in direct taxes including personal income tax and corporate tax.
  • After considering refunds, net direct tax collection stands at ₹5.84 lakh crore, signifying a 17.33% increase from the corresponding period of the previous year.
  • The projected direct tax collection for the fiscal year 2023-24 is slightly above ₹18.23 lakh crore, marking a 9.75% rise from the past fiscal.
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