Direct tax collections rise 15% to Rs 5.17 lakh crore in 2023-24

New Delhi, July 10 Direct tax collections rose 15 per cent to reach Rs 5.17 lakh crore till July 9, against the corresponding period of last year, according to provisional data released by the Finance Ministry on Monday.

Direct tax collection, net of refunds, stood at Rs. 4.75 lakh crore which was 15.87 per cent higher than the net collections for the corresponding period of last year.

This collection is 26.05 per cent of the total budget estimates of direct taxes for 2023-24.

Refunds worth Rs 42,000 crore have been issued during April 1, 2023 till July 9, which are 2.55 per cent higher than refunds issued during the same period in the corresponding year.