Net direct tax mop-up grows 22% to Rs 10.60 lakh crore so far in FY’24, crosses 58% of budget target

• November 11, 2023
• CA Chandan Agarwal's Office

The net corporate tax collection grew 12.48 per cent and personal income tax mop up rose 31.77 per cent.

Net direct tax collection swelled 22 per cent so far this fiscal year to Rs 10.60 lakh crore, crossing 58 per cent of the Budget target for the full year, the Income Tax department said on Friday.

The net corporate tax collection grew 12.48 per cent and personal income tax mop up rose 31.77 per cent.

“Direct Tax collection, net of refunds, stands at Rs 10.60 lakh crore which is 21.82 per cent higher than the net collection for the corresponding period of last year.”

This collection is 58.15 per cent of the total Budget Estimates of Direct Taxes for F.Y. 2023-24,” the I-T department said in a statement.

Source: https://www.zeebiz.com/personal-finance/income-tax/news-net-direct-tax-mop-up-grows-22-to-rs-1060-lakh-crore-so-far-in-fy24-crosses-58-of-budget-target-263827