Advance tax mopup rises 20% YoY in April-December

The Centre has budgeted ₹18.20 lakh crore from direct taxes in FY24, a 9.6% rise from the latest estimate available for FY23. The budget estimate (BE) for direct tax revenue in the last fiscal (FY23) was ₹14.2 lakh crore. It was later revised to ₹16.5 lakh crore and ended marginally higher at ₹16.61 lakh crore.