Business

Gross Direct tax collections till Nov 10 of this fiscal continue to register steady growth

Ministry of Finance has said that the provisional figures of Direct Tax collections up to 10th November of this fiscal continue to register steady growth. The Ministry said that gross Direct tax collections till the 10th of this month remained at 10.54 lakh crore rupees which is 30.69 percent higher than the gross collections for the corresponding period of last year.

After adjusting refunds, the Direct Tax collection stands at 8.71 lakh crore rupees which is 25.71 percent higher than the net collections for the corresponding period of last year. This collection is 61.31 of the total Budget Estimates of Direct Taxes for the current fiscal.

The Ministry added that refunds amounting to one lakh 83 thousand crore rupees have been issued during 1st April to 10th November of this fiscal. It is nealry around 61 percent higher than refunds issued during the same period in the preceding year.

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