India News | Gross Direct Tax Collections Up 31 Pc to Rs 10.54 Lakh Cr So Far This Fiscal
Get latest articles and stories on India at LatestLY. The gross direct tax collections have risen 31 per cent to Rs 10.54 lakh crore so far this fiscal, driven by personal income tax mop-up, the finance ministry said on Friday.
New Delhi, Nov 11 (PTI) The gross direct tax collections have risen 31 per cent to Rs 10.54 lakh crore so far this fiscal, driven by personal income tax mop-up, the finance ministry said on Friday.
The net collection of direct taxes, which include personal and corporate taxes, after adjusting for refunds stood at Rs 8.71 lakh crore. This is 61.31 per cent of the Budget target for the full fiscal.
Refunds worth Rs 1.83 lakh crore have been issued between April 1- November 10.
"Direct Tax collections up to 10thNovember, 2022 show that gross collections are at Rs. 10.54 lakh crore which is 30.69 per cent higher than the gross collections for the corresponding period of last year," the ministry said in a statement.
Gross corporate tax and Personal Income Tax (PIT) collections grew 22.03 per cent and 40.64 per cent, respectively.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)