Direct tax collections registers growth of 19.5% till Feb current fiscal

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Direct tax collections registers growth of 19.5% till Feb current fiscal

Direct tax collections have registered a growth of 19(point)5 per cent till February of the current fiscal as compared to corresponding period of last year. The Direct Tax collections till February stood at 7.44 lakh crore rupees. The net Direct Tax collections represent 74.3 per cent of the revised estimates of Direct Taxes for the financial year 2017-18 which is 10.05 lakh crore rupees. The gross collections before adjusting for refunds have increased by 14.5 per cent to 8.83 lakh crore rupees during April, 2017 to February 2018. Refunds amounting to 1.39 lakh crore rupees have been issued during April, 2017 to last month. In a statement, Finance Ministry said, the growth rate of net collections for corporate income tax is 19.7 per cent and for Personal Income Tax is 18.6 per cent.