The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 6.92 lakh crore includes Corporation Tax (CIT) of Rs 2.2 lakh crore
At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget.
The Advance Tax collections for Financial Year 2023-24 as on September 16 stand at Rs. 3.55 lakh crore as compared to Rs 2.94 lakh crore for the corresponding period of previous fiscal.
Even as the outlook on the economy continues to remain bleak, Finance Minister P Chidambaram is hopeful that the direct tax collection target for the current fiscal will be achieved.
The net direct tax collection has increased by 9.28% to Rs 3.46 lakh crore in the April-January period mainly on account higher realisation of personal income tax and corporate tax.