Net direct tax collection grows 18% to Rs 11.25 trillion: Govt data

Net direct tax collection grew 18.3 per cent to about Rs 11.25 trillion as of October 10 this fiscal, government data showed on Friday.

The mop-up includes personal income tax collection of Rs 5.98 trillion 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 income tax department had collected Rs 9.51 trillion during the same period a year ago.

Refunds worth Rs 2.31 trillion were issued between April 1 and October 10, a growth of 46 per cent.

On a gross basis, 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 trillion and corporate tax of Rs 6.11 lakh crore.

The government has budgeted to collect Rs 22.07 trillion in the current fiscal from direct taxes.