India’s direct tax collections fall 4% to 6.64 trillion rupees
Investing.com -- India’s net direct tax collections decreased by 4% year-on-year to 6.64 trillion rupees ($75.79 billion) for the period from April 1 to August 11, according to a statement released by the government on Tuesday.
The income tax department reported that direct taxes, which encompass both corporate and personal taxes, declined by nearly 2% year-on-year to 7.99 trillion rupees on a gross basis during the same period.
Meanwhile, the government issued tax refunds amounting to 1.35 trillion rupees during this timeframe, representing an increase of approximately 10% compared to the same period last year.
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