Oct 05, 2018
Direct Tax Collection grows over 16.5%
The Finance Ministry on Thursday announced that the direct tax collection has reached Rs.5.47 lakh crore during the first six months of the current fiscal. This is 16.7 per cent higher than corresponding period of previous fiscal.
Direct tax comprises of Personal Income Tax (PIT), Corporate Income Tax (CIT) and Securities Transaction Tax (STT). The Ministry mentioned that the growth rate would have been higher as the gross collections of the corresponding period last year also included extraordinary collections under third and last instalment of the Income Declaration Scheme (IDS), 2016 which amounted to Rs.10,254 crore.