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Net direct tax collection grew 18.3% to about ₹11.25 lakh crore as of October 10 this fiscal, government data showed on Friday (October 11, 2024).

The mop-up includes personal income tax collection of ₹5.98 lakh crore and corporate tax collection of ₹4.94 lakh crore. Securities Transaction Tax (STT) stood at ₹30,630 crore, while other taxes (including equalisation levy and gift tax) earned ₹2,150 crore.

The income tax department had collected ₹9.51 lakh crore during the same period a year ago.

Refunds worth ₹2.31 lakh crore were issued between April 1 and October 10, a growth of 46%.

On a gross basis, direct tax collection grew 22.3% to ₹13.57 lakh crore. The collection includes PIT (personal income tax) of ₹7.13 lakh crore and corporate tax of Rs 6.11 lakh crore.

The government has budgeted to collect ₹22.07 lakh crore in the current fiscal from direct taxes.

New Delhi:

Over 30 lakh audit reports (TAR) were filed till September 30 on the e-filing portal of the Income Tax Department, the tax authority said on Monday.

The Income-tax Department through the release appreciated taxpayers and tax professionals for making compliances on time. Those who were to get their books audited were supposed to submit the tax audit report on or before September 30 of the relevant assessment year.

“More than 30.75 lakh audit reports, including about 29.5 lakh Tax Audit Reports have been filed for AY 2023-24 on the e-filing portal till the end of the due date (September 30),” the release said.

To facilitate the taxpayers, extensive outreach programmes were carried out.

“Around 55.4 lakh outreaches were done through e-mails, SMSs, social media, along with information messages on Income Tax portal to create awareness among the taxpayers to file the Tax Audit Reports and other audit forms within the due date,” it said.

“Various user awareness videos were uploaded on the Income Tax portal to provide guidance. Such concerted efforts have been helpful to the taxpayers and tax professionals in filing the audit reports within the due date,” the release further said.

The e-filing portal successfully handled the traffic, providing a seamless experience to the taxpayers and tax professionals for filing the audit reports.

“The e-filing helpdesk team has handled approximately 2.36 lakh queries from the taxpayers in the month of September 2023 supporting the taxpayers and tax professionals proactively during the filing period, helping them resolve any complexity involved,” the release added.