INCOME TAX DEPARTMENT RECOVERS RS 73,500 CR IN FY24 DUES

The Income Tax Department has successfully recovered Rs 73,500 crore in pending dues for the financial year 2023-24 up to March 15

- 

The Income Tax Department has successfully recovered Rs 73,500 crore in pending dues for the financial year 2023-24 up to March 15. This recovery marks a substantial increase compared to the previous financial year's collection of over Rs 52,000 crore.

Of the total recovered amount, corporate tax dues amounted to Rs 56,000 crore, while personal income tax constituted Rs 16,500 crore. Additionally, undisclosed income from foreign assets accounted for Rs 50 crore.

This accomplishment comes as part of a focused recovery plan aimed at enhancing the collection of outstanding tax arrears.