India’s net direct tax collections for the financial year 2023-24 grew by 17.7%, reaching which of the following figures, surpassing the revised estimates set in the Union Budget?

Correct option is C

India’s net direct tax collections for 2023-24 grew by 17.7%, hitting ₹19.58 lakh crore, which slightly surpassed the Revised Estimates (RE).
· Direct Tax Performance:
· The net direct tax collections exceeded the Budget Estimates (BE) of ₹18.23 lakh crore by 7.40% and the Revised Estimates (RE) of ₹19.45 lakh crore by 0.67%.
· This increase was fueled primarily by a surge in personal income tax, whose share rose to 53.3% of total tax collections, compared to 50.06% in the previous year.
· Corporate Tax Contribution:
· The share of corporate tax in total direct tax collections decreased to 46.5%, down from 49.6% in the previous year, marking a shift toward higher reliance on personal income tax revenue.