Business

Direct tax cat 30% increase through September, more than double the required rate

NEW DELHI: Live Totals Tax the collection has grown by 30% to a little under Rs 8.4 lakh crore in the financial year up to September 17, when the previous tax has been paid the second time.
Current growth ratio more than twice the rate of offering to meet the whole year direct tax target of Rs 14.2 lakh crore. About two weeks left until the end of FY23, direct tax collection is estimated at about 58% of the full year plan.
However, the rate of increase in mopping prices has slowed from the 45% increase recorded between April and June 17, when the first tranche of tax advances was paid.
On Saturday, the Treasury Department’s monthly economic report for August said that “the buoyancy in revenue growth is not expected to deteriorate” for the remainder of the current year. Government and RBI are expecting strong festival demand.

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