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Direct tax collection rises by 19.5% to Rs 7.44 lakh crore in April-February

The net direct tax collection represents 74.3% of the Rs 10.05 lakh crore as per the revised estimates given in Union Budget 2018-19.

business Updated: Mar 08, 2018 17:49 IST
Press Trust of India
Press Trust of India
Press Trust of India, New Delhi
Direct Tax collection,growth rate,Union Budget 2018-19
The growth rate for net corporate tax collections stood at 19.7% while for personal income tax is 18.6%. (File Photo)

The direct tax collection has risen 19.5% to Rs 7.44 lakh crore in the April-February period of the current fiscal, buoyed by a strong pick up in corporate tax.

The net direct tax collection represents 74.3% of the Rs 10.05 lakh crore as per the revised estimates given in Union Budget 2018-19, presented in Parliament last month.

“The provisional figures of direct tax collections up to February, 2018 show that net collections are atRs7.44 lakh crore which is19.5% higher than the net collections for the corresponding period of last year,” a finance ministry statement said.

The gross collections, before adjusting for refunds, rose 14.5% to Rs 8.83 lakh crore during 11 month period of the current financial year.

Refunds amounting to Rs 1.39 lakh crore have been issued till February.

The growth rate for net corporate tax collections stood at 19.7% while for personal income tax is 18.6%.

First Published: Mar 08, 2018 17:49 IST