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of <h1>India's Direct Tax Collections Surge 10.6% to Rs. 3.77 Lakh Crore by October 2016, Meeting 44.5% of Budget Target.</h1> Direct tax collections up to October 2016 increased by 10.6%, reaching Rs. 3.77 lakh crore, achieving 44.5% of the budget estimates for FY 2016-17. Corporate Income Tax (CIT) gross revenue grew by 11.6%, while Personal Income Tax (PIT), including Securities Transaction Tax, grew by 18.6%. After adjusting for refunds, CIT net growth was 5.0%, and PIT net growth was 18.4%. Refunds issued during April-October 2016 totaled Rs. 93,836 crore, marking a 32.2% increase compared to the same period the previous year.
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