India's net direct tax collection till June 15 in Q1FY24 up 11.5%

Advance tax payment up 15% in Q1

This report has been revised to include some additional information.

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The central government’s net direct tax collections from April 1 to June 15 of 2023-24 stood at Rs 3.77 trillion. This is an 11.5 per cent increase over Rs 3.39 trillion between April 1 and June 16 of FY23, data for which was released by the Revenue Department on June 17 last year.

The growth, mainly boosted by advance tax payment, indicates expectation of better corporate performance and an underlying economic growth.

Advance tax payment for the first quarter stood at Rs 1.16 trillion as on June 15, showing a