Direct tax kitty grows 19% to Rs 6.95 lakh crore in Apr-Jan period
New Delhi: The federal government’s direct tax kitty swelled to Rs 6.95 lakh crore throughout the April-January interval of the present fiscal, a development of 19.three % over the year-ago interval.
The web direct tax collections symbolize 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 as much as January 2018 present that web collections are at Rs 6. 95 lakh crore which is 19.three % larger than the web collections for the corresponding interval of final 12 months,” a finance ministry assertion mentioned.
The web collections for Company Earnings Tax (CIT) confirmed a development of 19.2 % and for Private Earnings Tax (PIT) at 18.6 %.
Refunds amounting to Rs 1.26 lakh crore have been issued throughout the 10-month interval of the present fiscal.