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The central authorities’s web direct tax collections stood at Rs 4,62,664 crore for the primary 11 months of the present monetary 12 months, up 21 per cent on a year-on-year foundation, in keeping with official knowledge launched on Tuesday. Its advance tax collections for the interval, from April 1 to June 17, got here in at Rs 1,48,823 crore, up 27.3 per cent, the information confirmed.
Listed here are some key takeaways from the finance ministry knowledge:
The provisional figures of Direct Tax collections for the Monetary Yr 2024-25 (as on 17.06.2024) present that Internet collections are at Rs. 4,62,664 crore, in comparison with Rs. 3,82,414 crore within the corresponding interval of the previous Monetary Yr (i.e. FY 2023-24), representing a rise of 20.99%.
The Internet Direct Tax assortment of Rs. 4,62,664 crore (as on 17.06.2024) contains Company Tax (CIT) at Rs. 1,80,949 crore (web of refund) and Private Earnings Tax (PIT) together with Securities Transaction Tax (STT) at Rs. 2,81,013 crore (web of refund).
The provisional figures of Gross assortment of Direct Taxes (earlier than adjusting for refunds) for the Monetary Yr 2024-25 stand at Rs. 5,15,986 crore in comparison with Rs. 4,22,295 crore within the corresponding interval of the previous monetary 12 months, exhibiting a progress of twenty-two.19% over the collections of FY 2023-24.
The Gross assortment of Rs. 5,15,986 crore contains Company Tax (CIT) at Rs. 2,26,280 crore and Private Earnings Tax (PIT) together with Securities Transaction Tax (STT) at Rs. 2,88,993 crore. Minor head smart assortment contains Advance Tax of Rs. 1,48,823 crore; Tax Deducted at Supply of Rs. 3,24,787 crore; Self-Evaluation Tax of Rs. 28,471 crore; Common Evaluation Tax of Rs. 10,920 crore; and Tax beneath different minor heads of Rs. 2,985 crore.
Provisional figures of complete Advance Tax collections for Monetary Yr 2024-25 (as on 17.06.2024) stand at Rs. 1,48,823 crore, in opposition to Advance Tax collections of Rs. 1,16,875 crore for the corresponding interval of the instantly previous Monetary Yr (i.e. FY 2023-24), exhibiting a progress of 27.34%. The Advance Tax assortment of Rs. 1,48,823 crore contains Company Tax (CIT) at Rs. 1,14,353 crore and Private Earnings Tax (PIT) at Rs. 34,470 crore.
Refunds amounting to Rs. 53,322 crore have additionally been issued within the FY 2024-25 until 17.06.2024, that are 33.70% greater than refunds issued throughout the identical interval within the previous 12 months.
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