Direct Tax collections register over 23.5 % growth in current financial year so far

India's direct tax collection recorded over eight lakh 65 thousand crore rupees (till mid September of this financial years) which is 23.51 percent higher than the corresponding period of last year. The Direct Tax collection for the last financial year stood at seven lakh 416 crore rupees. 

The Gross Direct Tax collections have also witnessed robust growth of 18.29 percent so far this financial year with over nine lakh 87 thousand crore rupees. In the last financial year, over eight lakh 34



thousand crore rupees gross direct tax collections were recorded.

 

Meanwhile, the Advance Tax collections for this financial year stood at three lakh 55 thousand crore rupees with a growth of 20.73 percent. The Advance Tax collections for the corresponding period were recorded at two lakh 94 thousand 433 crore rupees. According to the Ministry of Finance, refunds amounting to one lakh 21 thousand crore rupees have also been issued so far