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of <h1>Direct Tax Collections Exceed Budget Estimates by Rs. 1.35 Lakh Crore, Growing 17.70% to Rs. 19.58 Lakh Crore in FY 2023-24.</h1> Net Direct Tax collections for FY 2023-24 have surpassed the Union Budget Estimates by Rs. 1.35 lakh crore, marking a 7.40% increase. The collections reached Rs. 19.58 lakh crore, a 17.70% rise from the previous year. Gross Direct Tax collections grew by 18.48% to Rs. 23.37 lakh crore. Corporate Tax collections increased by 13.06% to Rs. 11.32 lakh crore, while Personal Income Tax collections rose by 24.26% to Rs. 12.01 lakh crore. Refunds issued totaled Rs. 3.79 lakh crore, up 22.74% from the prior year.
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