New Delhi, Nov 11
India’s net direct tax collections recorded a 7 per cent growth to Rs 12.92 lakh crore between April 1 and November 10 of the current financial year compared to the same period of the previous financial year, according to official figures released on Tuesday.
Refunds issued during the 7-month period worked out to Rs 2.42 lakh crore, which is 18 per cent lower than the corresponding period of the previous year.
Non-corporate tax receipts, which include personal income tax from individuals and Hindu Undivided Families (HUFs), went up to Rs 7.19 lakh crore from Rs 6.62 lakh crore a year ago.
The limits for Tax Deducted at Source (TDS) have also been raised for various sections, such as on interest for senior citizens to Rs 1 lakh from Rs 50,000 and on rent to Rs 6 lakh annually from Rs 2.40 lakh