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

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.