New Delhi: The Central Board of Direct Taxes (CBDT) informed that gross direct tax revenue in the country has reached Rs 10.54 lakh crore so far in the current fiscal year. The gross collection of tax on corporate and individual earnings climbed nearly 31% per cent so far in the current fiscal year.
This includes a 41% growth in personal income tax (including Securities Transaction Tax) mop up and 22% increase in corporate tax revenues over the same period last year.
After adjusting for refunds, the net direct tax collections between April 1-November 10 stood at Rs 8.71 lakh crore. This is 61.31% of the Budget estimates (BE) for the full-year tax collection target.
The Budget had estimated direct tax collection at Rs 14.20 lakh crore this fiscal. In the last fiscal year, the gross direct tax collection was at Rs 14.10 lakh crore.
Tax on corporate and individual income makes up for direct taxes.