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Direct Tax Collection Grew 19% during Apr-Jan: FinMin
February 14, 2018
As per a recent statement from the finance ministry, revenue collection from the direct taxes grew by 19.3% on a year-over-year basis between April and January to stand at Rs. 6.95 lakh crores. This makes for 69.2% of the estimated direct tax collection during the entire fiscal year 2017-18 which is Rs. 10.05 lakh crores.
The ministry said that the collection from Corporate Income Tax (CIT) grew by 19.2% and that from Personal Income Tax (PIT) by 18.6%. It also said that about Rs. 1.26 lakh crores were disbursed in the form of tax refunds during the current fiscal.
