Direct tax collection boom?(Direct tax )

Income Tax: Net direct tax  (Direct tax ) collection of the Government of India increased by 15.4 percent to Rs 12.1 trillion ($ 143 billion) compared to last year. Giving information about this collection during the period from April 1 to November 10, the Income Tax Department said that direct tax, which includes corporate and personal taxes, increased by more than 21 percent on a gross basis to Rs 15 trillion during this period. The Income Tax Department also said that it has issued a tax refund of Rs 2.9 trillion (Rs 2.92 lakh crore). This is a jump of 53 percent on an annual basis.

Budget of direct tax in the current financial year

According to the news, direct tax collection includes net corporate tax of Rs 5.10 lakh crore and non-corporate tax of Rs 6.62 lakh crore. Other taxes worth Rs 35,923 crore were collected. The government has budgeted to collect Rs 22.12 lakh crore from direct taxes in the current financial year, which is 13 percent more than the previous financial year.