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of <h1>Direct Tax Collections Surge: 80.61% of 2023-24 Budget Achieved by January, Marking a 16.77% Growth to Rs. 17.18 Lakh Crore.</h1> Direct tax collections for the fiscal year 2023-24 reached 80.61% of the total budget estimates by January 10, 2024, with gross collections at Rs. 17.18 lakh crore, marking a 16.77% year-on-year increase. Net collections, after refunds, totaled Rs. 14.70 lakh crore, reflecting a 19.41% growth. Corporate Income Tax (CIT) saw a net growth of 12.37%, while Personal Income Tax (PIT) grew by 27.26%. Refunds issued amounted to Rs. 2.48 lakh crore from April 1, 2023, to January 10, 2024, indicating a steady growth in direct tax collections.
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