Direct tax collection increased by 21.48 percent!!!
The Income Tax Department has released the data of Direct Tax Collections. For the financial year 2024-25, till september 17, 2024, the gross direct tax collection has reached Rs 12,01,073 crore with a jump of 21.48 percent. While the net direct tax collection has been Rs 9,95,766 crore with a jump of 16.12 percent. The Income Tax Department has also released the data of Advance Tax Collections, according to which there has been a growth of 39.22 percent in Personal Income Tax collection while there has been a jump of 18.17 percent in corporate Tax collection. The Central Board of Direct Taxes, while releasing the data of direct tax collection till 19 september 2024, said that the gross tax collection has been Rs 12,01,073 crore with a jump of 21.48 percent.
Refunds have increased by 56.49 percent and it has been Rs 2,05,307 crore. After which the net direct tax collection has been Rs 9,95,766 crore with a jump of 16.12 percent. According to the data, till september 17, 2024, an advance tax of Rs 4,36,067 crore has come for the financial year 2024-25, which was Rs 3,55,660 crore during this period in the last financial year. That is, there has been a jump of 22.61 percent in advance tax in the current financial year.
In the current financial year, corporate tax collection has increased by 18.17 percent to Rs 3,31,730 crore, while personal income tax advance tax collection has increased by 39.22 percent to Rs 1,04,336 crore. september 15 was the last date for depositing advance tax for the second quarter of the current financial year.
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