India, April 23 -- Final direct tax collections for financial year 2023-24 (FY24) have ended up higher than not just Budget Estimates (BE) but also the Revised Estimates (RE). The surge in direct taxes is primarily driven by a better-than-expected performance on the personal income tax (PIT) front. FY24 is the first time when PIT collections will be larger than corporate taxes. What is one to make of the ongoing bull run in direct taxes, especially in PIT?...