{"id":7928,"date":"2024-06-18T18:55:39","date_gmt":"2024-06-18T13:25:39","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/?p=7928"},"modified":"2024-06-18T18:55:39","modified_gmt":"2024-06-18T13:25:39","slug":"gross-direct-tax-collections-for-the-financial-year-fy-2024-25-register-a-growth-of-22-19","status":"publish","type":"post","link":"https:\/\/matribhumisamachar.com\/en\/2024\/06\/18\/gross-direct-tax-collections-for-the-financial-year-fy-2024-25-register-a-growth-of-22-19\/","title":{"rendered":"Gross Direct Tax collections for the Financial Year (FY) 2024-25 register a growth of 22.19%"},"content":{"rendered":"<p style=\"text-align: justify;\">The<strong>\u00a0<\/strong>provisional figures of Direct Tax collections for the Financial Year 2024-25 (<strong>as on 17.06.2024<\/strong>) show that\u00a0<strong>Net collections are at Rs. 4,62,664 crore, compared to Rs. 3,82,414 crore<\/strong>\u00a0in the corresponding period of the preceding Financial Year (i.e. FY 2023-24), representing an\u00a0<strong>increase of 20.99%.<\/strong><\/p>\n<p style=\"text-align: justify;\">The Net Direct Tax collection of Rs. 4,62,664 crore (as on 17.06.2024<strong>)\u00a0<\/strong>includes Corporation Tax (CIT) at Rs. 1,80,949 crore (net of refund) and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs. 2,81,013 crore (net of refund).<\/p>\n<p style=\"text-align: justify;\">The provisional figures of\u00a0<strong>Gross collection<\/strong>\u00a0of Direct Taxes (before adjusting for refunds) for the Financial Year 2024-25 stand at\u00a0<strong>Rs. 5,15,986 crore<\/strong>\u00a0compared to\u00a0<strong>Rs. 4,22,295 crore<\/strong>\u00a0in the corresponding period of the preceding financial year, showing\u00a0<strong>a growth of 22.19%<\/strong>\u00a0over the collections of FY 2023-24.<\/p>\n<p style=\"text-align: justify;\">The Gross collection of Rs. 5,15,986 crore includes Corporation Tax (CIT) at Rs. 2,26,280 crore and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs. 2,88,993 crore. Minor head wise collection comprises Advance Tax of Rs. 1,48,823 crore; Tax Deducted at Source of Rs. 3,24,787 crore; Self-Assessment Tax of Rs. 28,471 crore; Regular Assessment Tax of Rs. 10,920 crore; and Tax under other minor heads of Rs. 2,985 crore.<\/p>\n<p style=\"text-align: justify;\">Provisional figures of total\u00a0<strong>Advance Tax collections<\/strong>\u00a0for Financial Year 2024-25 (as on 17.06.2024)<strong>\u00a0<\/strong>stand at<strong>\u00a0Rs. 1,48,823 crore,<\/strong>\u00a0against Advance Tax collections of Rs. 1,16,875 crore for the corresponding period of the immediately preceding Financial Year (i.e. FY 2023-24), showing a\u00a0<strong>growth of 27.34%<\/strong>. The Advance Tax collection of Rs. 1,48,823 crore comprises Corporation Tax (CIT) at Rs. 1,14,353 crore and Personal Income Tax (PIT) at Rs. 34,470 crore.<\/p>\n<p style=\"text-align: justify;\"><strong>Refunds<\/strong>\u00a0amounting to\u00a0<strong>Rs. 53,322 crore<\/strong>\u00a0have also been issued in the FY 2024-25 till 17.06.2024, which are 33.70% higher than refunds issued during the same period in the preceding year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0provisional figures of Direct Tax collections for the Financial Year 2024-25 (as on 17.06.2024) show that\u00a0Net collections are at Rs. 4,62,664 crore, compared to Rs. 3,82,414 crore\u00a0in the corresponding period of the preceding Financial Year (i.e. FY 2023-24), representing an\u00a0increase of 20.99%. The Net Direct Tax collection of Rs. 4,62,664 crore (as on 17.06.2024)\u00a0includes Corporation &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4767,4768,867,4769,3536],"class_list":["post-7928","post","type-post","status-publish","format-standard","","category-business-english-news","tag-fiscal-year-2024-25","tag-government-income","tag-income-tax","tag-tax-collection-trends","tag-tax-revenue"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gross Direct Tax collections for the Financial Year (FY) 2024-25 register a growth of 22.19% - Matribhumi Samachar English<\/title>\n<meta name=\"description\" content=\"Gross Direct Tax collections for FY 2024-25 show a robust growth of 22.19%, reflecting economic resilience and fiscal strength. 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