Direct tax boost before Budget: Apr-Dec collection up 18.2% at Rs 6.6 trn

The net direct tax collections represent 67% of total Budget Estimates of direct taxes for FY2017-18 is Rs 9.8 trillion: Finance Ministry

Direct tax collections soared 18.2 per cent during the first nine months of the current financial year at Rs 6.56 trillion, (Rs 6.56 lakh crore) the finance ministry said on Tuesday.

In a statement, the ministry said provisional numbers for direct taxes collections showed an 18.2 per cent growth during April-December.

Direct taxes are made up of income tax paid by individuals, wealth tax and corporation tax paid by companies.

"The net direct tax collections represent 67 per cent of the total Budget Estimates of direct taxes for FY2017-18 is Rs 9.8 trillion, (Rs 9.8 lakh crore)," the statement said.