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So far in the current financial year, net direct tax collection has increased by 20.66 percent to Rs. 13.70 lakh crore has been exceeded. The Income Tax Department has given this information. The Income Tax Department on Monday said that by December 17, 2023, Rs. 13,70,388 crore net direct tax collection from Corporate Tax (CIT) Rs. 6.95 lakh crore was received. Personal Income Tax (PIT) share of Rs. 6.73 lakh crore was. This includes Securities Transaction Tax. Let us tell you that the net direct tax collection has reached 75 percent of the budget estimate in the current financial year.
What to expect: In the current financial year from direct tax Rs. 18.23 lakh crore is expected to be collected. This includes personal income tax and corporate tax. In the financial year 2023-24 till 17 December 2023 ‘refunds’ of over Rs 2.25 lakh crore have also been issued.
Advance Tax Collection Statistics
The total advance tax collection figure for the financial year 2023-24 (as on December 17) is Rs. 6,25,249 crores as compared to Rs. 5,21,302 crores showing an increase of 19.94 per cent against the collection of Rs. In advance tax collection Rs. 4,81,840 crore in corporation tax and Rs. 1,43,404 crore in personal income tax is included.
Bill ITR due date till 31st December
Taxpayers who have missed filing Income Tax Return (ITR) for the financial year 2022-23 (AY 2023-24) by December 31 ITR can file. The last date for filing belated ITR under Section 139(4) of the Income Tax Act, 1961 is December 31. It also attracts a fine of up to Rs 5,000. Apart from this, you can also file an amended ITR to correct the errors. Revised ITR is filed under Section 139(5) of the Income Tax Act. No separate form is required for this.