The provisional figures of Direct Tax collections up
to February, 2018 show that net collections are at Rs.7.44 lakh crore which is
19.5% higher than the net collections for the corresponding period of last
year, says an official release.
The net Direct Tax
collections represent 74.3% of the Revised Estimates of Direct Taxes for F.Y.
2017-18 (Rs. 10.05 lakh crore). Gross collections (before adjusting for
refunds) have increased by 14.5% to Rs.8.83 lakh crore during April 2017 to
February 2018. Refunds amounting to Rs.1.39 lakh crore have been issued during
April 2017 to February 2018.
The growth rate for net collections for Corporate
Income Tax (CIT) is 19.7% and for Personal Income Tax (PIT) is 18.6%