April-Jan Direct tax receipts up 11.38% to Rs 5.78 trillion

Direct tax collections increased by 11.38 per cent to Rs 5.78 lakh crore during the April-January period of current financial year. The government had collected Rs 5.19 lakh crore in direct taxes during the April-January period of last fiscal, the Finance Ministry said in a statement. As per the Budget 2014-15, the revenue from direct tax is targeted at Rs 7.36 lakh crore for current fiscal, a growth rate of 16 per cent over previous fiscal. During the ten-month period, corporate tax collections grew by 11.04 per cent at Rs 3.64 lakh crore as against Rs 3.28 lakh crore during the same period last fiscal.