Direct tax collection grows 19.3% to Rs 6.95 trn in Apr-Jan 2017-18

The net collections for Corporate Income Tax showed a growth of 19.2% and for Personal Income Tax at 18.6%

The government's direct tax kitty swelled to Rs 6.95 trillion during the April-January period of the current fiscal, a growth of 19.3 per cent over the year-ago period.

The net direct tax collections represent69.2 per cent of the revised estimatesof Rs 10.05 trillion for direct taxes in 2017-18.

"The provisional figures of Direct Tax collections up to January, 2018 show that net collections are at Rs 6.95 trillion, which is19.3 per cent higher than the net collections for the corresponding period of last year," a finance ministry statement said.

The net collections for Corporate Income Tax (CIT) showed a growth of 19.2 per cent and for Personal Income Tax (PIT) at 18.6 per cent.

Refunds amounting toRs 1.26 lakh crorehave been issued during 10-month period of the current fiscal.