Direct Tax Revenue Collection withnesses 19.5% gain YoY growth.

Direct Tax collection recorded 7.44 lakh crore rupees in April-February, this is a 19.5% Year over Year (YoY) growthin tax collection revenue. The 11 months tenure starting from April 2017 to February 2018, the country's direct tax collection has increased 19.5%. With this surge, the total tax collection was 7.44 lakh crore rupees. This tax increase is mainly due to the increase in corporate tax.

The Net Direct Tax Collection has been 74.3 per cent against the revised target of Rs 10.05 lakh crore for the financial year 2017-18. Union Finance Minister Arun Jaitley presented his fourth full time budget on 1 February 2018.

According to a statement issued by the Finance Ministry, "Provisional Figures of Direct Tax Collections till February 2018 show that the net collection has been worth 7.44 lakh crores, which is 19.5% higher than the same period last fiscal. "

During the 11 months of the current financial year, the Gross Direct Tax collection (without refund adjustment) increased by 14.5 per cent to Rs 8.83 lakh crore. During this period, the government has made a refund of Rs 1.39 lakh crore. Net corporate tax collection growth rate remained at 19.7 per cent, while the personal income tax rate was 18.6 per cent.