Direct tax collections in India up 16% so far in 2023-24

New Delhi: Direct tax collections so far in 2023-24 have seen steady growth with total mop-up at Rs 6.53 lakh crore, a 15.73 per cent increase over the amount received in the same period last financial year.

Direct Tax collection, net of refunds, stands at Rs. 5.84 lakh crore, which is 17.33 per cent higher than the net collections for the corresponding period of last year.

According to a press release by the Central Board of Direct Taxes (CBDT), this collection is 32.03 per cent of the total Budget estimates of direct taxes for 2023-24.

“Refunds amounting to Rs. 0.69 lakh crore have been issued from April 1, 2023 to August 10, 2023, which are 3.73 per cent higher than refunds issued during the same period in the preceding year,” the release said.