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News INCOME TAX

  • Sep 04, 2018
  • Direct tax collections grow at 6.6% and corporation tax barely 1%

    The government might be talking about the surge in filing of Income Tax returns till the August 31 deadline, but direct tax collection data available so far are unlikely to bring a loud cheer. The numbers released by the Controller General of Accounts (CGA) on Friday revealed that direct tax collections grew by a meagre 6.6 per cent during April-July of the current financial year against the Budget target of 14.4 per cent for 2018-19. The growth was the lowest when compared with corresponding periods of the past three years.