New Delhi - Direct tax collection was up by 19.1% to Rs 1.90 lakh crore in the April-July period, the government said.
"Direct tax collection during the said period, net of refunds, stands at Rs 1.90 lakh crore which is 19.1% higher than the net collections for the corresponding period of last year," the Finance Ministry said in a statement.
The collection up to July 2017 indicates that 19.5% of the annual budget target of direct taxes (Rs 9.8 lakh crore) had been achieved, it said.
Refunds amounting to Rs 61,920 crore had been issued during April-July 2017, which is 5.1% lower than the refunds issued during the corresponding period of 2016-17.
"So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 7.2% while that for PIT (including Securities Transaction Tax) is 17.5%. However, after adjusting for refunds, the net growth in CIT collections is 23.2% while that in PIT collections is 15.7%," the statement said.