Thursday, Sep 20, 2018 | Last Update : 09:45 AM IST

Direct tax collection rises 19.5 per cent in February

THE ASIAN AGE.
Published : Mar 9, 2018, 12:31 am IST
Updated : Mar 9, 2018, 12:32 am IST

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

The gross collections, before adjusting for refunds, rose 14.5 per cent 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 gross collections, before adjusting for refunds, rose 14.5 per cent 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.

New Delhi: The direct tax collection has risen by 19.5 per cent to Rs 7.44 lakh crore in the April-February period of the current fiscal due to strong pick up in corporate tax.

The net direct tax collections represent 74.3 per cent of the revised estimates of direct taxes for the financial year 2017-18 which stand at Rs 10.05 lakh crore.

The gross collections, before adjusting for refunds, rose 14.5 per cent 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 per cent while for personal income tax is 18.6 per cent. “The net direct tax collections upto February 2018 have maintained a healthy growth rate of above 19 per cent, which has partly doused concerns regarding a shortfall in dividends and profits,” said Icra. 

Tags: income tax, corporate tax, direct tax, tax collection