Direct Tax Collections rose 19.5% between April 2017 to February 2018, government data said.

Share Market Live

NSE

A statement released by the Department of Revenue Central Board of Direct Taxes put total direct tax collections at Rs 7.44 lakh crore.

The net Direct Tax collections amounts up to 74.3% of the revised estimates of Direct Taxes for financial year 2017-18 that stands at Rs.10.05 lakh crore.

Gross collections (before adjusting for refunds) have increased by 14.5% to Rs.8.83 lakh crore during April 2017 to February 2018. In addition, refunds amounting to Rs.1.39 lakh crore have also been issued during the same period.

As per the release, the growth rate for net collections for Corporate Income Tax (CIT) stands at 19.7% and that for Personal Income Tax (PIT) at 18.6%.

First Published:Mar 8, 2018 11:13 AM IST