Direct tax kitty grows 19% to Rs 6.95 lakh crore in Apr-Jan period

Collections for Corporate Income Tax showed a growth of 19.2% and that for Personal Income Tax came at 18.6%.

New Delhi: The government's direct tax kitty swelled to Rs 6.95 lakh crore during the April-January period of the current fiscal, a growth of 19.3 percent over the year-ago period.

The net direct tax collections represent 69.2 percent of the revised estimates of Rs 10.05 lakh crore for direct taxes in 2017-18.

"The provisional figures of Direct Tax collections up to January 2018 show that net collections are at Rs 6. 95 lakh crore which is 19.3 percent higher than the net collections for the corresponding period of last year," a finance ministry statement said.

The net collections for Corporate Income Tax (CIT) showed a growth of 19.2 percent and for Personal Income Tax (PIT) at 18.6 percent.

Refunds amounting to Rs 1.26 lakh crore have been issued during the 10-month period of the current fiscal.