New Delhi, Jan. 12 -- The central government's direct tax receipts after adjusting for refunds grew 8.8% in the April to 11 January period to Rs.18.37 trillion, nearly three-fourths of the full-year target, official data released on Monday showed.

The government aims to collect Rs.25.2 trillion this fiscal year from corporate and non-corporate tax.

Data showed that before adjusting for refunds, direct tax collection grew 4.1% year-on-year to Rs.21.49 trillion so far this financial year, but some moderation in refunds helped to improve the net revenue collection growth.

The rationalisation of tax deducted at source (TDS) - by lowering rates and increasing the monetary thresholds in the current fiscal - is seen as a key factor contributi...