Home / Knowledge / News / Direct tax collections up by 40%
Direct tax collections up by 40%
Jan '08
Direct tax collections continued to record a growth of over 40 percent for the period April to January 15 in the current fiscal.

Net tax collections stood at Rs.2,17,149 crore, up from Rs.1,52,993 crore during the same period last fiscal, registering a growth of 41.93 percent and achieving over 81 percent of budgeted direct tax target of Rs.2,67,490 crore.

Corporate Tax registered a growth of 37.22 percent at Rs.1,32,948 crore, up from Rs.96,883 crore during the previous fiscal, while Personal Income Tax (including FBT, STT and BCTT) grew by 50.15 percent at Rs.83,897 crore, up from Rs.55,874 crore.

Growth in Securities Transaction Tax (STT) was 78.19 percent (Rs.6,793 crore against Rs.3,812 crore) and Fringe Benefit Tax (FBT) was 64.79 percent (Rs.5,121 crore against Rs.3,108 crore). Banking Cash Transaction Tax (BCTT) grew by 15.26 percent (Rs.423 crore against Rs.367 crore).

Tax deduction / collection at source increased by over 51 percent while self-assessment tax (unpaid taxes paid voluntarily before submission of tax return) increased by over 59 percent, indicating continued improvement in tax administration and tax compliance levels.

Press Information Bureau Government of India

Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search