Direct tax kitty grows 19% to Rs 6.95 lakh crore in April-January

The net direct tax collections represent 69.2% of the revised estimates of Rs 10.05 lakh crore for direct taxes in 2017-18.

The government’s direct tax kitty swelled to Rs 6.95 lakh crore during the April-January period of the current fiscal, a growth of 19.3% over the year-ago period.

The net collections for Corporate Income Tax (CIT) showed a growth of 19.2% and for Personal Income Tax (PIT) at 18.6%. (Reuters File Photo)

The net direct tax collections represent 69.2% of the revised estimates of Rs 10.05 lakh crore for direct taxes in 2017-18.

“The provisional figures of Direct Tax collections up to January, 2018 show that net collections are at Rs 6. 95 lakh crore which is 19.3% higher than the net collections for the corresponding period of last year,” a finance ministry statement said.

The net collections for Corporate Income Tax (CIT) showed a growth of 19.2% and for Personal Income Tax (PIT) at 18.6%.

Refunds amounting to Rs 1.26 lakh crore have been issued during 10-month period of the current fiscal.