Centre surpasses direct tax collection target; Rs 10.60 trillion collected by November
The direct tax collections in the current fiscal year (up to 9 November) have increased by 21.8% over the previous year. This growth is higher than the 11.6% growth rate projected in the budget. The gross direct tax collections stood at Rs. 12.37 trillion, marking a 17.59% rise compared to the corresponding period last year.
– CIT collections grew by 12.5%
– PIT collections grew by 31.8%
– Refunds totaled Rs. 1.77 trillion
Experts expect that the recent Supreme Court victories for the department will contribute to tax collections for the current year.
Link to the original story: https://www.businessworld.in/article/Centre-Surpasses-Direct-Tax-Collection-Targets-Rs-10-60-Trillion-Collected-by-November/11-11-2023-498468
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