The provisional figures of Direct Tax collections for 2018-19 up to November this year show that Gross Collections are at 6.75 lakh crore rupees. This is 15.7 percent higher than the Gross Collections for the corresponding period of last year.
Finance Ministry said in a release that refunds amounting to 1.23 lakh crore rupees have been issued during April to November this year which is 20.8 percent higher than refunds issued during the same period in the preceding year.
The Net Collections after adjusting for refunds have increased by 14.7 percent to 5.51 lakh crore rupees during April to November. Net Direct Tax collections represent 48 percent of the total Budget Estimates of Direct Taxes for 2018-19.
