New Delhi:  India’s net direct tax collections, covering corporate tax and personal income tax, surged by 15.4% year-on-year, totaling Rs 12.1 lakh crore from April 1 to November 10. Gross tax collections exceeded Rs 15 lakh crore, a 21% rise, as per the Central Board of Direct Taxes (CBDT).

Refunds: Rs 2.9 lakh crore in tax refunds were issued, marking a 53% increase.
Corporate vs. Individual Contributions: Rs 5.10 lakh crore collected in corporate tax; Rs 6.62 lakh crore from non-corporate sources.
Other Tax Revenues: Rs 35, 923 crore from the Equalisation Levy, gift tax, etc.
With a target of Rs 22.12 lakh crore for 2024-25, these robust collections reflect India’s strong fiscal position, aiding infrastructure investment, welfare schemes, and lower fiscal deficits, which collectively enhance economic stability and job creation.