Direct tax collections up to 15 January 2018, are at Rs6.89 trillion, 18.7% higher than net collections for corresponding period last year. Photo: iStockphotoNew Delhi: Direct tax collections during the first nine-and-a-half months of the current fiscal have risen by 18.7% to Rs6.89 trillion, the tax department said on Wednesday. The collections till 15 January, 2018 represent over 70% of the Rs9.8 trillion revenue target from direct taxes, the Central Board of Direct Taxes (CBDT) said in a statement. “The provisional figures of direct tax collections up to 15 January, 2018, show that net collections are at Rs6.89 lakh crore which is 18.7% higher than the net collections for the corresponding period last year,” it said. The growth in corporate tax collections has risen from 4.8% in first quarter of current fiscal to 10.1% in Q3 and 11.4% as on 15 January, 2018.

Source: Mint January 17, 2018 12:47 UTC