Government’s Advance Income Tax Collection from Telecom Users Last Year

Government’s Advance Income Tax Collection from Telecom Users Last Year

During the fiscal year 2023-24 (FY24), the government collected Rs. 92 billion from telecom users as advance income tax (AIT). This amount is 15% higher than the Rs. 80 billion collected in the previous fiscal year (FY23).

Here is a summary of AIT collections over the past few years:

• FY22: Rs. 61 billion
• FY21: Rs. 55 billion
• FY20: Rs. 50 billion

In total, the government collected Rs. 338 billion in AIT from FY20 to FY24.

The Ministry of Finance mentioned that the AIT collected from consumers is adjustable, meaning it can be claimed back when filing income tax returns.

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