Direct Tax Data

Only withheld refunds where assessee reply is awaited, says CBDT

Government was targetting direct tax collection of Rs 13.5 trillion ($189 billion) for the year ending March 31 - a 17% increase over the prior fiscal year

The ordinance to cut the corporation tax rate has said MAT provisions will not apply to a company which has exercised the option for a lower rate of tax

Direct taxes, as a share of total tax revenue, rose to 55 per cent, close to its average level in the last few years

A combination of factors is responsible. This includes a deepening of the general economic slowdown and corporation tax cuts

However, their proportion to total tax filers remained stagnant at 0.17% in both the years

The collections had shot up that year because people regularised their unaccounted income by paying higher levies

The fall in the share of direct taxes may have been caused as much due to their tepid growth rates of 9% and 7% in 2014-15 and 2015-16, respectively