Net direct tax collection grows 18% to ₹11.25 lakh cr
The Hindu
Net direct tax collection up 18.3% to ₹11.25 lakh crore by October 10, 2024, exceeding last year's figures.
Net direct tax collection grew 18.3% to about ₹11.25 lakh crore as of October 10 this fiscal, government data showed on Friday (October 11, 2024).
The mop-up includes personal income tax collection of ₹5.98 lakh crore and corporate tax collection of ₹4.94 lakh crore. Securities Transaction Tax (STT) stood at ₹30,630 crore, while other taxes (including equalisation levy and gift tax) earned ₹2,150 crore.
The income tax department had collected ₹9.51 lakh crore during the same period a year ago.
Refunds worth ₹2.31 lakh crore were issued between April 1 and October 10, a growth of 46%.
On a gross basis, direct tax collection grew 22.3% to ₹13.57 lakh crore. The collection includes PIT (personal income tax) of ₹7.13 lakh crore and corporate tax of Rs 6.11 lakh crore.
The government has budgeted to collect ₹22.07 lakh crore in the current fiscal from direct taxes.
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