Direct tax collection rises 11% to Rs 3,79,760 crore

Direct tax collections for 2023-24, as on June 17, stood at Rs 3,79,760 crore, compared to Rs 3,41,568 crore in the corresponding period of the last fiscal, representing an increase of 11.18 per cent. The net direct tax collection of Rs 3,79,760 crore included corporation tax (CIT) at Rs 1,56,949 crore (net of refund) and personal income tax (PIT) including securities transaction tax (STT) at Rs 2,22,196 crore (net of refund). The gross collection of direct taxes (before adjusting for refunds) for 2023-24 stands at Rs 4,19,338 crore as compared to Rs 3,71,982 crore in the corresponding period of last fiscal, registering a growth of 12.73 per cent over collections of 2022-23. The advance tax collections for the first quarter of 2023-24 stand at Rs 1,16,776 crore as on June 17, against advance tax collections of Rs 1,02,707 crore for the corresponding period of the immediately preceding fiscal i.e. 2022-23, showing a growth of 13.70 per cent.