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Published 20:07 IST, October 11th 2024

Net direct tax collection grows 18 pc to Rs 11.25 lakh cr

The income tax department had collected Rs 9.51 lakh crore during the same period a year ago.

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Net direct tax collection surged by an impressive 22 per cent in the current fiscal year, reaching Rs 10.60 lakh crore | Image: Unsplash
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Net direct tax collection grew 18.3 per cent to about Rs 11.25 lakh crore as of October 10 this fiscal, government data showed on Friday.

The mop-up includes personal income tax collection of Rs 5.98 lakh crore and corporate tax collection of Rs 4.94 lakh crore. Securities Transaction Tax (STT) stood at Rs 30,630 crore, while other taxes (including equalisation levy and gift tax) earned Rs 2,150 crore.

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The income tax department had collected Rs 9.51 lakh crore during the same period a year ago.

Refunds worth Rs 2.31 lakh crore were issued between April 1 and October 10, a growth of 46 per cent.

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On a gross basis, direct tax collection grew 22.3 per cent to Rs 13.57 lakh crore. The collection includes PIT (personal income tax) of Rs 7.13 lakh crore and corporate tax of Rs 6.11 lakh crore.

The government has budgeted to collect Rs 22.07 lakh crore in the current fiscal from direct taxes. 

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20:07 IST, October 11th 2024

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