Direct tax collections grow 17% to Rs 9.95 lakh crores in 2017-18

The Direct Tax collections for the fiscal year 2017-18 stood at 9(point)95 lakh crore rupees, which is 17(point)1 per cent higher than net collection of 2016-17. 

The tax collections during the fiscal year 2017-18 has exceeded the budget estimates of 9.80 lakh crore rupees. 

Briefing reporters in New Delhi, Finance Secretary Hasmukh Adhia said, the government has broadly met the direct and indirect tax revenue target this year. 

Giving more details on direct tax collection, Central Board of Direct Taxes, Chairman Sushil Chandra said, during the last fiscal, 6.84 crore income tax returns were filed as compared to 5.43 crore returns filed in 2016-17 showing a growth of 26 per cent. #casansaar (Source - NewsonAir)