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News INCOME TAX

  • Dec 11, 2018
  • Direct tax receipts rise 15.7% in April-November

    The income tax department has collected Rs. 6.75 trillion in direct taxes this year up to November, accounting for close to half of its full-year target of Rs 11.5 trillion, an official statement said here. The April-November gross direct tax receipts show a 15.7% jump in revenue compared to the same time a year ago. During the first eight months of this fiscal, the department issued Rs.1.23 trillion of refunds, which is 20.8% more than the amount refunded during the same period a year ago. Net direct tax collections after refunds stood at Rs 5.51 trillion, a 14.7% jump from the year-ago period.