Direct Tax Collections grows by 19.5%  up to February, 2018

The provisional figures of Direct Tax collections up to February, 2018 show that net collections are at Rs.7.44 lakh crore which is 19.5% higher than the net collections for the corresponding period of last year. The net Direct Tax collections represent 74.3% of the Revised Estimates of Direct Taxes for the Financial Year 2017-18 which stand at Rs. 10.05 lakh crore.

Gross collections (before adjusting for refunds) have increased by 14.5% to Rs.8.83 lakh crore during April 2017 to February 2018. Refunds amounting to Rs.1.39 lakh crore have been issued during April 2017 to February 2018. The growth rate for N​et collections for Corporate Income Tax (CIT) is 19.7% and for Personal Income Tax (PIT) is 18.6%.

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