Net direct tax collections for the current financial year rose 9.4% year-on-year to Rs 19.43 lakh crore as of February 10, reflecting steady growth in revenue mobilisation compared with the same period last year. The increase signals continued momentum in tax compliance and economic activity during the ongoing fiscal.
The government collected 22.8 trillion rupees in gross direct taxes during April 1 to February 10, about 4.1% higher than the same period a year earlier, according to a statement by the income tax department. India’s financial year runs from April to March.
Direct tax collections primarily include corporate and income tax. The government issued refunds worth 3.3 trillion rupees during the period.
