Di­rect Tax Mop-up Rises 19% in Q1

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

New Delhi: The gov­ern­ment’s di­rect taxes grew at a healthy pace in the first four months of the cur­rent fis­cal, rid­ing on ro­bust per­sonal tax col­lec­tions.

Di­rect tax col­lec­tion, net of re­funds, rose 19.1% in April-July to .₹ 1.9 lakh crore, data re­leased by the fi­nance min­istry on Wed­nes­day showed. “This col­lec­tion is 19.5% of the total bud­get es­ti­mates of di­rect taxes for the fi­nan­cial year 2017-18,” the min­istry said in a state­ment. Cor­po­rate in­come tax rose 7.2% in this pe­riod, while per­sonal in­come tax in­creased by 17.5%.

Af­ter ad­just­ing for re­funds, the net growth in cor­po­rate tax col­lec­tions is 23.2%.

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