Net direct tax collection rises 16.12% to Rs 9.95 trillion till Sep 17 | India News
Net direct tax collection grew 16.12 per cent to over Rs 9.95 trillion so far this fiscal on higher advance tax mop up.
Refunds worth over Rs 2.05 trillion were issued, a 56.49 per cent jump over the same period last fiscal.
The net personal income tax (PIT) collection grew 19 per cent to Rs 5.15 trillion between April 1 and September 17. Corporate tax collection went up 10.55 per cent to over Rs 4.52 trillion.
Revenues from Securities Transaction Tax (STT) stood at Rs 26,154 crore.
After taking into account refunds, net collection from PIT and corporate taxes stood at Rs 9,95,766 crore so far this fiscal, a growth of 16.12 per cent over the year-ago period.
Advance tax collection grew 22.61 per cent to Rs 4.36 trillion. The growth in PIT advance tax mop up was 39.22 per cent while for corporate tax, it was 18.17 per cent.
Gross direct tax collection stood at Rs 12.01 trillion, a growth of 21.48 per cent so far this fiscal.
The government has budgeted to collect Rs 22.12 trillion in the current fiscal from direct taxes (personal income tax, corporate tax and other taxes), up 13 per cent over the previous fiscal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 18 2024 | 10:22 PM IST
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