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Direct Tax Collection Jumps 19% in Four Months
August 14, 2017
According to an official statement, direct tax collections which comprise of personal and corporate taxes increased by 19% during the first four months of the current financial year. This has been credited to the demonetization move that banned higher denomination currency notes and roped in more individuals towards the tax bracket.
According to the statement, the total direct tax collection from April to July this year stood at Rs. 1.90 lakh crore. While the personal income tax grew by 17.5%, the corporate tax grew by 7.2%.
