Direct tax mop-up exceeds target in FY18 at Rs 9.95 trn; 68.4 mn ITRs filed

Direct tax collection in the fiscal year just ended has exceeded the targets with a record 68.4 million income tax returns being filed, officials said on Monday.

Direct tax collections in 2017-18 at Rs 9.95 trillion, exceeded the revised budgetary target of Rs 9.8 trillion.

Also, 68.4 million income tax returns filed in the year against 54.3 million in the previous year, CBDT Chairman told reporters here.

A net of 9.95 million new assessees were added to the tax net.