The Ministry of Finance has released preliminary figures that reveal a major development. Financial Year (FY) The 2023-24 has been exceeded Union Budget Estimates have a significant margin of Rs. 1,35 lakh crores. This is a significant increase of 7,40%. The provisional collections of direct tax stand at Rs. 19,58 lakh crores, which represents a growth of 17.70% over the previous FY 2022-23.
Exceeding Budget Estimates
You can also find out more about the following: The initial budget estimates (BE) of Direct Tax revenues in FY 2023-24 was set at Rs. The initial budget estimates (BE) for Direct Tax revenue in FY 2023-24 were set at Rs. The later was Revision to Rs. 1945 crores. The net actual collections, however, have exceeded both BE and Revised Estimates by 7.40% (RE) and 0.67% (BE), respectively. This shows the robust performance in direct tax revenue for the fiscal year.
Gross Collection Highlights
The estimated gross direct tax collection (before refunds are adjusted) for the FY 2023-24 is an impressive Rs. This represents a significant increase of 18.48% compared to the previous fiscal year.
Corporate Tax Collections
You can also find out more about the following: Gross corporate tax collection…
