Net direct tax collections stand at Rs 5.84 lakh crore, 17% higher than last fiscal

Net direct tax assortment for the present monetary yr are Rs 5.84 lakh crore, that are 17.33 per cent extra than internet collections recorded in the course of the corresponding interval of last yr, the Finance Ministry stated on Friday.

The collections are 32.03 per cent of the entire finances estimates of direct taxes for 2023-24

In an announcement, the Finance Ministry stated that the collections from direct taxes, which embody private earnings tax and company tax, as much as August 10, 2023, proceed to register “regular progress”.

On a gross foundation, direct tax assortment grew 15.73 per cent to Rs 6.53 lakh crore until August 10 within the present fiscal, whereas refunds value Rs 69,000 crore have been issued until date, that are 3.73 per cent higher than last yr.

India collects direct taxes primarily by way of company and private earnings tax.

(With inputs from IANS)