![India’s Net Direct Tax Collections Surge by 21.8%](https://www.gkseries.com/blog/wp-content/uploads/2024/02/download-3.jpg)
India’s net direct tax collections grew 21.8% to ₹9.57 lakh crore by October 9, surpassing over half of the Budget estimates for 2023 with personal income tax revenues rising 32.5% and corporate taxes increasing 12.4%.
While tax refunds amounting to ₹1.5 lakh crore have been remitted to taxpayers so far, some refunds are being withheld on the basis of pending tax demands from the past that taxpayers are being given a chance to address.