New Delhi: Net direct tax collection grew 19.54 per cent to over ₹5.74 lakh crore so far this fiscal on higher advance tax payments by corporates.
The first instalment of advance tax, which was due on June 15, rose 27.34 per cent to ₹1.48 lakh crore. This includes Corporation Income Tax (CIT) at ₹1.14 lakh crore and Personal Income Tax (PIT) at ₹34,470 crore.
The net direct tax collection of ₹5,74,357 crore (as of July 11, 2024) includes CIT at ₹2,10,274 crore and PIT at ₹3,46,036 crore, as per data released by Central Board of Direct Taxes (CBDT) on Saturday.
The net direct tax collection of ₹5,74,357 crore (as of July 11, 2024) includes CIT at ₹2,10,274 crore and PIT at ₹3,46,036 crore, as per data released by Central Board of Direct Taxes (CBDT) on Saturday.
Securities Transaction Tax (STT) contributed ₹16,634 crore to the direct tax collection, it said.
