Net direct tax collection grows 15.41% to ₹12.11 lakh crore till Nov 10

Net direct tax collection grew 15.41% to ₹12.11 lakh crore between April 1 and November 10.

This include net corporate tax of ₹5.10 lakh crore and non-corporate taxes (including taxes paid by individuals, HUFs, firms) of ₹6.62 lakh crore. Other taxes (which include Equalisation Levy and gift tax) worth ₹35,923 crore were mopped up.

As per the Central Board of Direct Taxes (CBDT) data, the gross collection of direct tax stood at ₹15.02 lakh crore, up 21.20%, during April-November 10.

Refunds worth ₹2.92 lakh crore was issued during the period, a 53% jump over year-ago period.

After adjusting for refunds, net direct tax collection (which include corporate, non-corporate and other taxes) stood at about ₹12.11 lakh crore, a 15.41% growth over ₹10.49 lakh crore mopped up in the same period last fiscal.

The government has budgeted to collect ₹22.12 lakh crore in the current fiscal from direct taxes (personal income tax, corporate tax and other taxes), up 13% over previous fiscal.