Net direct tax collection grows 23% to ₹8.11 lakh cr
Summary
- Net direct tax collection has grown by 23% to ₹8.11 lakh crore.
- The growth is attributed to slower refunds and higher non-corporate taxes.
- Refund issuances have slowed down with a 3.8% year-on-year growth to ₹1.43 lakh crore.
Key Facts
- · Net direct tax collection: ₹8.11 lakh crore
- · Growth rate: 23%
- · Refund issuances growth rate: 3.8%
- · Refund issuances amount: ₹1.43 lakh crore
Why it matters
The growth in direct tax collection indicates a positive trend in the country's revenue collection, which can have implications for government spending and economic policy.
#direct tax#tax collection#refunds#non-corporate taxes