Direct tax collection up 19% in Apr-July at Rs 1.90 lakh cr

August 09, 2017 20:09

Direct tax collections jumped 19 per cent in the first four months of the current fiscal as demonetisation of higher denomination currency brought in more number of individuals in tax net.

Collections of direct taxes, which are made up of personal and corporate taxes, soared to Rs 1.90 lakh crore in April-July, an official statement said.

The collection, net of refunds, was 19.5 per cent of the total Budget Estimate of direct taxes for 2017-18.Corporate income tax grew 7.2 per cent on gross terms and personal income tax by 17.5 per cent. -- PTI

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