Direct tax collection exceeds target in FY18
New Delhi: Direct tax collection in the fiscal year just ended has surpassed the targets with a record 6.84 lakh income tax returns being filed, officials said on Monday.
Direct tax collections in 2017-18 at Rs 9.95 lakh crore, exceeded the revised budgetary target of Rs 9.8 lakh crore.
Also, 6.84 crore income tax returns filed in the year against 5.43 crore in the previous year, CBDT Chairman told reporters here. A net of 99.5 lakh new assessees were added to the tax net.
CBDT chairman further said that net collection from corporate tax went up 17.1 percent while that from personal income tax rose 18.9 per cent.