Gross direct tax collections up 31 per cent to Rs 10.54 lakh crore so far this fiscal

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 10th November, 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.