Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data

India's net direct tax collection surged by 22.48 per cent, reaching approximately Rs 6.93 lakh crore as of August 11 for the current fiscal year, according to government data released on Monday. This significant increase is said to be the reflection of robust economic activity and improved tax compliance. The overall tax collection includes Rs 4.47 lakh crore from personal income tax, showcasing the strong contribution of individual taxpayers to the exchequer. Meanwhile, the corporate tax collection also showed a healthy performance, contributing Rs 2.22 lakh crore to the total.