Updated January 11th, 2024 at 16:54 IST

Net direct tax collection rises 19.4% annually in April-January

The direct tax collection from April 1-January 10 has helped the government to achieve about 81 per cent of the budget target of Rs 18.2 lakh crore.

Reported by: Business Desk
Tax | Image:Freepik Photo
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The government's net direct tax collection rose 19.4 per cent annually to Rs 14.7 lakh crore in current financial year up to January 10, according to a statement from the Ministry of Finance.

The direct tax collection from April 1-January 10 has helped the government to achieve about 81 per cent of the budget target of Rs 18.2 lakh crore.

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The figure includes corporate tax and personal income tax, which rose by 12.4 per cent and 27.3 per cent year-on-year, respectively, according to the statement. The government did not share the corporate and personal tax collection figures in absolute terms.

During the same period, the government's gross tax collected, before adjusting for refunds, was Rs 17.2 lakh crore, about 17 per cent higher than last year. It issued refunds worth Rs 2.5 lakh crore during the fiscal year, the statement said.

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(With Reuters inputs)

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Published January 11th, 2024 at 16:54 IST