Gross Direct Tax Collections Dropped Almost 5% In Last Fiscal

Gross direct tax collections for 2019-20 fell almost 5% at Rs 12.33 lakh crore against the previous year's Rs 12.97 lakh crore, the Central Board of Direct Taxes (CBDT) said. This fall in the collection of direct taxes is on expected lines and is temporary in nature due to the historic tax reforms undertaken and much higher refunds issued during the FY 2019-20, CBDT noted.

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