India collected ₹12.1 lakh crore in net direct taxes between April 1 and November 10, an increase of 15.4% from the previous year. Both corporate and individual income tax collections are included in this amount. According to an official statement from the income tax department, direct tax receipts climbed by 21.20% on a gross basis during this time, amounting to ₹15 lakh crore.
Corporate taxes account for ₹5.10 lakh crore of net direct tax receipts, whereas non-corporate taxes account for ₹6.62 lakh crore. In addition, ₹35,923 crore in various taxes were collected.
During this time, ₹2.92 lakh crore in refunds were given out, which is a 53% increase over the same period the previous year. In the current fiscal year, the government wants to collect ₹22.12 lakh crore from direct taxes, which is 13% more than it did in the previous one.
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