Direct tax collection up 19% till July at Rs.1.90 lakh crore

Direct tax collections till July in the current financial year registered a growth of 19.1 percent. The tax collection during the said period, stands at 1.90 lakh crore rupees which is 19.1 percent higher than the net collections for the corresponding period of last year. 

So far, the growth rate for Corporate Income Tax (CIT) is 7.2 percent and Personal Income Tax (PIT) is 17.5



percent. However, after adjusting for refunds, the net growth in CIT collections is 23.2 per cent while the PIT collections is 15.7 per cent. 

Refunds amounting of 61,920 crore rupees have been issued during April to July this year which is 5.1 percent lower than the refunds issued during the corresponding period of last financial year.