Direct tax collections up to January FY18 rise 19.3%

The provisional figures of direct tax collections up to January 2018, show that net collections are at Rs 6.95 lakh crore, 19.3% higher than the net collections for the corresponding period of last year. 
 
Net direct tax collections represent 69.2% of the Revised Estimates of Direct Taxes for FY 2017-18 (Rs 10.05 lakh crore). Gross collections (before adjusting for refunds) have increased by 13.3% to Rs 8.21 lakh crore during April 2017 to January 2018. 
 
Refunds of Rs 1.26 lakh crore have been issued during April 2017 to January 2018.
 
Net collections for corporate income tax(CIT) and Personal Income Tax(PIT) grew 19.2% and 18.6%, respectively.