Direct Taxes collection grows 18% in 2017-18

The Centre’s net direct taxes collections grew 18 % in 2017-18 to touch Rs.10,02,607 crore, Finance Minister Arun Jaitley has said. This data reveals the efficiency of the tax department and rise in the number of honest taxpayers, Jaitley tweeted.

“This historical revenue receipt is a factual testimony of accountable governance under PM@narendramodi ji,” said the tweet.

“This is further substantiated by filing of more than 1 crore IT returns by taxpayers during financial year 2017-18 (6.84 cr ITRs) in comparison to financial year 2016-17 (5.43 crore ITRs),” Jaitley tweeted.

For 2017-18, the Centre’s direct taxes budget estimate was pegged at Rs.9.80 lakh crore. The revised estimate was pegged at Rs.10.05 lakh crore.