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News Misc. - Direct Tax

  • Jan 08, 2019
  • Direct tax collection rises 13.6% to Rs 7.43 trn in Apr-Dec, refunds up 17%

    The government collected income tax revenue amounting to Rs 7.43 trillion in April to December 2018-19, 13.6 per cent higher than that collected in the same period of the previous financial year, the Central Board of Direct Taxes (CBDT) said in a release on Monday. Gross collection grew faster at 14.1 per cent, the reason, officials said, being faster payout of refunds. Refunds worth Rs 1.3 trillion were paid in April-December, 17 per cent higher than the previous year. As for advance tax, its collections grew 14.5 per cent over previous year to touch Rs 3.64 trillion.