The gross direct tax collections has increased by over 23 per cent to eight lakh ninety eight thousand crore rupees in the current financial year as compared to last year. Finance Ministry said, the provisional figures of direct tax collections till yesterday continue to register steady growth. Direct Tax collection, net of refunds, stands at seven lakh forty five thousand crore rupees which is 16.3 per cent higher than the net collections for the corresponding period of last year. The Ministry said, this collection is over 52 per cent of the total budget estimates of direct taxes for the current fiscal.
The refunds amounting to one lakh 53 thousand crore rupees have been issued during 1st April to 8th October this year, which are 81 per cent higher than refunds issued during the same period in the preceding year.
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