Gross Direct Tax collections for current Financial Year register over 17 percent growth

The Gross Direct Tax collections for the Financial Year 2023-24 have registered a growth of over 17 percent. Before adjusting refunds, Gross Collection of Direct Taxes stands at over 15 lakh 95 thousand crore rupees as compared to 13 lakh 63 thousand crore in the corresponding period of 2022-23.

The Ministry of Finance has said that the Direct Tax collections for this finance year up to 17th December , show that net collections are at 13 lakh 70 thousand crore rupees which is an increase of 20.66 per cent.

The Ministry added that advance Tax collections for the Fiscal Year 2023-24 stand at over 6 lakh 25 thousand crore rupees which shows a growth of 19.94 per cent.