Income Tax Return Update (August 24): Many people file their income tax returns on time via the Income Tax Department's e-filing portal, but often skip the crucial step of verifying their tax returns.

As of now, Net Direct Tax Collection has increased by 15.87 percent to Rs 4.75 lakh crore on an annual basis during the financial year 2023-24. As per the notification released by the Ministry of Finance, the gross collection is Rs 5.17 lakh crore.