Direct Tax Collections Rise 18.3% to Rs 11.25 Lakh Crore

 New Delhi: The government on Friday said that net direct tax collections grew 18.3 per cent to about Rs 11.25 lakh crore as of October 10 this fiscal. 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,” the finance ministry said in a statement.

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,” it said.

On a gross basis, it also said, 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.