{"id":15223,"date":"2024-07-13T15:00:21","date_gmt":"2024-07-13T12:00:21","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=15223"},"modified":"2024-07-13T15:00:21","modified_gmt":"2024-07-13T12:00:21","slug":"direct-tax-mop-up-rises-20-to-%e2%82%b95-74-lakh-cr-on-higher-corporate-advance-tax","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=15223","title":{"rendered":"Direct tax mop-up rises 20% to \u20b95.74 lakh cr on higher corporate advance tax"},"content":{"rendered":"<p>Net direct tax collection grew 19.54% to over \u20b95.74 lakh crore so far this fiscal on higher advance tax payment by corporates. The first instalment of advance tax, which was due on June 15, rose 27.34% to \u20b91.48 lakh crore. This includes Corporation Income Tax (CIT) at \u20b91.14 lakh crore and Personal Income Tax (PIT) at \u20b934,470 crore. The net direct tax collection of \u20b95,74,357 crore (as of July 11, 2024) includes CIT at \u20b92,10,274 crore and PIT at \u20b93,46,036 crore, as per data released by Central Board of Direct Taxes (CBDT) on July 13. Securities Transaction Tax (STT) contributed \u20b916,634 crore to the direct tax collection, it said. During the same period last year, net direct tax collection was \u20b94,80,458 crore.Refunds amounting to \u20b970,902 crore have also been issued in FY25 till July 11, which is 64.4% higher than refunds issued during the same period in the previous year. For April-July 11, gross collection of direct taxes (before adjusting for refunds) stood at \u20b96.45 lakh crore compared to \u20b95.23 lakh crore in the year-ago period, showing a growth of 23.24%. For full fiscal year, the interim budget has pegged direct tax collection at \u20b921.99 lakh crore. <button class=\"btn comments comment-btn print-hide\"><br \/>\nRead Comments <span class=\"coral-count\" data-coral-url=\"https:\/\/www.thehindu.com\/business\/Economy\/direct-tax-mop-up-rises-20-to-574-lakh-cr-on-higher-corporate-advance-tax\/article68399421.ece\" data-coral-id=\"68399421\" data-coral-notext=\"true\"><\/span><\/button><button class=\"btn share-btn\" data-ga-labelclick=\"ArticleShare\"><\/button><\/p>\n<ul class=\"share-list bottom\">\n<li class=\"copy-link\">\nCopy link\n<\/li>\n<li class=\"email\">\nEmail\n<\/li>\n<li class=\"facebook\">\nFacebook\n<\/li>\n<li class=\"twitter\">\nTwitter\n<\/li>\n<li class=\"telegram\">\nTelegram\n<\/li>\n<li class=\"in\">\nLinkedIn\n<\/li>\n<li class=\"whatsapp\">\nWhatsApp\n<\/li>\n<li class=\"reddit\">\nReddit\n<\/li>\n<\/ul>\n<p>SEE ALL<br \/>\n<button class=\"btn print-btn\" id=\"print\" data-ga-labelclick=\"PrintArticle\"><span>PRINT<\/span><\/button><\/p>\n<h3 class=\"title-patch\">\nRelated Topics<br \/>\n<\/h3>\n<p>taxes and duties<br \/>\n<span><br \/>\n\/<br \/>\n<\/span><br \/>\neconomy, business and finance<br \/>\n<span><br \/>\n\/<br \/>\n<\/span><br \/>\nUnion Budget<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net direct tax collection grew 19.54% to over \u20b95.74 lakh crore so far this fiscal on higher advance tax payment by corporates. The first instalment of advance tax, which was due on June 15, rose 27.34% to \u20b91.48 lakh crore. This includes Corporation Income Tax (CIT) at \u20b91.14 lakh crore and Personal Income Tax (PIT) &#8230; <a title=\"Direct tax mop-up rises 20% to \u20b95.74 lakh cr on higher corporate advance tax\" class=\"read-more\" href=\"https:\/\/ch.jfdi.cc\/?p=15223\" aria-label=\"Read more about Direct tax mop-up rises 20% to \u20b95.74 lakh cr on higher corporate advance tax\">Read more<\/a><\/p>\n","protected":false},"author":6,"featured_media":15224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[8625,1766,186,5697,2369,3391,7344,26,10488,249,569,7343,3767,2294,3398,3682,2763,7350,8183,1065,4733,6546,1183,6581,6803,169],"class_list":["post-15223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-april","tag-budget","tag-business","tag-collection","tag-data","tag-direct-tax-collection","tag-direct-taxes","tag-economy","tag-email","tag-facebook","tag-finance","tag-fiscal-year","tag-growth","tag-income","tag-income-tax","tag-personal-income-tax","tag-reddit","tag-refunds","tag-released","tag-tax","tag-tax-collection","tag-tax-payment","tag-taxes","tag-taxes-and-duties","tag-telegram","tag-twitter"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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