Internet direct tax assortment grows 18% to ₹11.25 lakh cr

Photograph used for illustration objective solely.

Internet direct tax assortment grew 18.3% to about ₹11.25 lakh crore as of October 10 this fiscal, authorities knowledge confirmed on Friday (October 11, 2024).

The mop-up consists of private revenue tax assortment of ₹5.98 lakh crore and company tax assortment of ₹4.94 lakh crore. Securities Transaction Tax (STT) stood at ₹30,630 crore, whereas different taxes (together with equalisation levy and present tax) earned ₹2,150 crore.

The revenue tax division had collected ₹9.51 lakh crore throughout the identical interval a yr in the past.

Refunds value ₹2.31 lakh crore have been issued between April 1 and October 10, a development of 46%.

On a gross foundation, direct tax assortment grew 22.3% to ₹13.57 lakh crore. The gathering consists of PIT (private revenue tax) of ₹7.13 lakh crore and company tax of Rs 6.11 lakh crore.

The federal government has budgeted to gather ₹22.07 lakh crore within the present fiscal from direct taxes.