IT Dept Press Release – Direct Tax Collection Beats Targets in FY 2023-24

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In a significant boost to the nation’s fiscal health, the Income Tax Department has announced a remarkable achievement in the realm of direct tax collection for the fiscal year 2023-24. Surpassing both budgeted expectations and revised estimates, the provisional figures reveal a substantial rise in net direct tax collections by ₹1.35 lakh crore, marking a substantial 7.40% increase over the anticipated figures. With gross direct tax collections registering an impressive growth of 18.48% and net collections soaring to ₹19.58 lakh crore, this milestone underscores a robust economic performance amidst dynamic financial landscapes

  • Net Direct Tax collections(provisional) for FY2023-24 exceed the Budget Estimates by ₹ 1.35 lakh crore i.e by 7.40% & Revised Estimates by 0.67%
  • Gross Direct Tax collections(provisional) at ₹23.37 lakh crore register a growth of 18.48%
  • Net Direct Tax collections(provisional) at ₹19.58 lakh crore mark a growth of 17.70%
  • Refunds of ₹3.79 lakh crore have been issued, an increase of 22.74% over refunds issued in F.Y 2022-23
  • Details available in Press Release:

Press Release


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Pooja Gupta

CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

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CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

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