Net direct tax collections grew 17.7% to ₹19.58 lakh crore in 2023-24, exceeding revised estimates. Personal income tax (PIT) share inc...
Net direct tax collections grew 17.7% to ₹19.58 lakh crore in 2023-24, exceeding revised estimates.
Personal income tax (PIT) share increased to 53.3% (from 50.06% in 2022-23), while corporate tax contribution dipped to 46.5% (from 49.6%).
PIT and securities transaction tax (STT) collections grew significantly, driving the uptick in net tax collections in the final fortnight.
PIT and STT receipts grew nearly twice as fast as corporate taxes.
Gross direct tax collection was ₹23.37 lakh crore (18.5% growth), with gross PIT and STT at ₹12.01 lakh crore.
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