Net direct tax collection for the first quarter of FY24 as on June 15 soared by 36 per cent to ₹3.78 trillion, indicating better corporate performance and a sustained economic growth trend.
Advance tax payment for the first quarter (between April 1 and June 15) stood at ₹1.16 trillion. This includes corporation tax at ₹92,173 crore and personal income tax at ₹23,513 crore.
June 15 was the deadline for the first instalment of advance tax.
Besides advance tax, the major contributor to high tax collection has been tax deducted at source (TDS), which came to around ₹2.69 trillion during the period.
This story is from the June 17, 2023 edition of Business Standard.
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This story is from the June 17, 2023 edition of Business Standard.
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