Direct tax collection exceeds target in FY18, record number of I-T returns filed

Direct tax collections in 2017-18 at ₹9.95 lakh crore, exceeded the revised budgetary target of ₹9.8 lakh crore.

Direct tax collection in the just-concluded fiscal year has exceeded targets with a record 6.84 lakh income tax returns being filed, officials said on Monday.

A net of 99.5 lakh new assessees were added to the tax net in FY18. (Ramesh Pathania/ HT Photo)

Direct tax collections in 2017-18 at ₹9.95 lakh crore, exceeded the revised budgetary target of ₹9.8 lakh crore.

Also, 6.84 crore income tax returns filed in the year against 5.43 crore in the previous year, CBDT chairman told reporters here.

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A net of 99.5 lakh new assessees were added to the tax net.