India's net direct tax collections increased by 17.7% in FY 2023–24.

India's net direct tax collections increased by 17.7% year-on-year, surpassing revised estimates by Rs 13,000 crore, and reaching Rs 19.58 lakh crore in the fiscal year ending March 2024. Gross direct tax collections (provisional) for FY 2023-24 rose 18.48% to Rs 23.37 lakh crore. The growth in tax collections reflects the strong economic growth and rise in income levels of individuals and corporates.

April 21, 2024
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