As of November 9, net direct tax collection for the current fiscal year has surged by 22%, reaching Rs 10.60 lakh crore, surpassing 58% of the full-year Budget target, according to government data. The Income Tax department disclosed a 12.48% growth in net corporate tax collection and a substantial 31.77% rise in personal income tax collection. After factoring in refunds, the net collection shows a 21.82% increase compared to the same period last year. On a gross basis, direct tax collection, encompassing corporate and personal income tax, rose by 17.59% to Rs 12.37 lakh crore. The fiscal year 2023-24 budget aims to exceed Rs 18.23 lakh crore in direct tax collection, marking a 9.75% YoY increase.