India's direct tax collection up 17.6% to Rs 12.3 trillion till Nov 9 : CBDT

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India’s direct tax collection up 17.6% to Rs 12.3 trillion till Nov 9 : CBDT

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November 10, 2023

India’s gross direct tax collections until November 9 reached Rs 12.37 trillion, marking a 17.5% increase from the same period last year, according to the Central Board of Direct Taxes (CBDT).
Net collections, excluding refunds, rose by 21.8% to Rs 10.6 trillion during the same period.
The tax refund issued by the Centre between April 1 and November 9 amounted to Rs 1.77 trillion.
The current tax collection represents 58.15% of the total Budget Estimates for the fiscal year 2023-24.
Corporate Income Tax (CIT) showed a gross growth of 7.13%, while Personal Income Tax (PIT) increased by 28.29% compared to the previous year.