The Budget Estimates (BE) for Direct Tax revenue in the Union Budget for
FY 2023- 24 were fixed at Rs. 18.23 lakh crore which were revised and the
Revised Estimates (RE) were fixed at Rs. 19.45 lakh crore. The provisional
Direct Tax collections (net of the refunds) have exceeded the BE by 7.40% and
RE by 0.67%.
The Gross collection (provisional) of Direct Taxes
(before adjusting for refunds) for the FY 2023-24 stands at Rs. 23.37
lakh crore showing a growth of 18.48% over the gross
collection of Rs. 19.72 lakh crore in FY 2022-23.
The Gross Corporate Tax collection (provisional) in FY
2023-24 is at Rs. 11.32 lakh crore and has shown a growth
of 13.06% over the gross corporate tax collection of Rs. 10
lakh crore of the preceding year. The Net Corporate Tax collection
(provisional) in FY 2023- 24 is at Rs. 9.11 lakh crore and has
shown a growth of 10.26% over the net corporate tax collection
of Rs. 8.26 lakh crore of the preceding year.
The Gross Personal Income Tax collection (including
STT) (provisional) in FY 2023- 24 is at Rs. 12.01 lakh crore and
has shown a growth of 24.26% over the Gross Personal Income
Tax collection (including STT) of Rs. 9.67 lakh crore of the preceding year.
The Net Personal Income Tax collection (including STT)
(provisional) in FY 2023-24 is at Rs. 10.44 lakh crore and has
shown a growth of 25.23% over the Net Personal Income Tax
collection (including STT) of Rs. 8.33 lakh crore of the preceding year.
Refunds of Rs. 3.79
lakh crore have been issued in the FY 2023-24 showing an increase of 22.74% over
the refunds of Rs. 3.09 lakh crore issued in FY 2022-23.