Net Direct Tax Collection At 8.65 Lakh Crore Rupees From April 1 To September 16 Is Up 23.5 Percent On Year On Year Basis

Direct Tax Collection: The figures of Direct Tax Collection in the country have come and this time the government’s treasury has been filled with a good increase. From April 1, 2023 to September 16, 2023, the country’s direct tax collection has increased by 23.5 percent to Rs 8.65 lakh crore. While direct tax collection has seen a spectacular increase of 23.5 percent on a year-on-year basis, advance tax collection has also seen a spectacular increase of 20.7 percent to Rs 3,55,481 crore.

STT also included in direct tax collection

Direct tax collection also includes corporation tax of Rs 4.16 lakh crore and personal income tax of Rs 4.47 lakh crore, which also includes Securities Transaction Tax (STT).

Know the details in detail

The provisional direct tax collection from April 1, 2023 to September 16 was Rs 8,65,117 crore, which was an excellent growth of 23.5 percent as compared to last year. In the same period last year, direct tax collection stood at Rs 7,00,416 crore. For the financial year 2023-24, the government has issued a refund of Rs 1,21,944 crore till 16 September 2023. During the first six months of the current financial year, corporation tax stood at Rs 4,16,217 crore, while personal income tax, which also includes securities transaction tax, stood at Rs 4,47,291 crore.

Central Board of Direct Taxes Releasing this data, it said that the gross collection of direct tax (before adjusting refunds) was Rs 9,87,061 crore, which if compared to last year, it was Rs 8,34,469 crore. In this way an increase of 18.29 percent has been seen.

Advance tax collection also increased by more than 20 percent

Provisional advance tax collection till September 16 of the current financial year has been Rs 3,55,481 crore which was Rs 2,94,433 crore during the same period last year. In this way an increase of 20.7 percent has been seen.

The result of the government’s efforts is the increase in tax collection.

The continuously increasing direct tax collection and advance tax collection is proof that the government’s efforts to stop tax evasion are bearing fruit and the use of advanced technology in the tax collection process is proving helpful in this.

read this also

Stock Market Closing: Stock market closed, Sensex-Nifty closed on the decline; Bank Nifty lost the level of 46,000