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Informist, Monday, Aug 12, 2024

 

--Govt: Apr 1-Aug 11 net direct tax collection 6.93 trln rupees, up 22.5% 

--Govt: Apr 1-Aug 11 net income tax mop-up 4.47 trln rupees 

--Govt: Apr 1-Aug 11 net corporate tax mop-up 2.22 trln rupees

 

NEW DELHI - The government's direct tax collection, net of refunds, during Apr 1-Aug 11 was 6.93 trln rupees, up 22.5% from the year-ago period, the finance ministry said in a release today.

 

The Union Budget for 2024-25 (Apr-Mar) projected total tax collections in the financial year at 38.40 trln rupees, up 10.8% from the previous year. Of the target, the government aims to collect 22.07 trln rupees as direct taxes, which include corporate and income tax.

 

Of the total 6.93 trln rupees, net corporate tax collections were 2.224 trln rupees and personal income tax collections were 4.473 trln rupees. The government aims to collect 10.20 trln rupees from corporate tax in 2024-25, while its personal income tax target is 11.87 trln rupees for the current financial year. 

 

Tax refunds worth 1.202 trln rupees were issued from Apr 1 to Aug 11, the ministry said. Net securities transaction tax collections during this period were 215.99 bln rupees, as against 102.34 bln rupees the previous year. The government aims to collect 370 bln rupees from securities transactions tax in 2024-25.  End

 

Reported by Priyasmita Dutta

Edited by Akul Nishant Akhoury

 

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