Net direct tax collection grows by 24% to Rs 8.77 lakh cr: Finance Ministry

New Delhi: The net direct tax collection grew by 24 percent to Rs 8.77 lakh crore in the April-November period of the current fiscal, said the Finance Ministry on Monday. This represents 61.79 percent of the full-year Budget Estimates (BE) of direct tax collection for 2022-23 (April-March)."Direct tax collection net of refund stands at Rs 8.77 lakh crore on November 30, which is 24.26 percent higher than the net collection for the corresponding period last year," the ministry said in a tweet.

Rationalisation in long-term capital gains tax structure: Finance Ministry

Budget estimated direct tax collection of Rs 14.20 lakh cr

The Budget estimated direct tax collection of Rs 14.20 lakh crore this fiscal, higher than Rs 14.10 lakh crore collected last fiscal (2021-22). Tax on corporate and individual income makes up for direct taxes.

The collection from the levy of tax on goods and services sold (GST) has flattened to around Rs 1.45-1.50 lakh crore per month.

Refunds amounting to Rs 2.15 lakh crore were issued between April 1 and November 30, which is about 67 percent higher than the last year.

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