Exclusive | Total direct tax collections for FY18-19 fall short by Rs 83,000 crore
Corporate tax collection during 2018-19 totalled Rs 662,748 crore while income tax amounted to Rs 442,170 crore. STT collection was 11,527 crores, latest data until April 1 showed.
April 02, 2019 / 10:30 PM IST
The Central Board of Direct Taxes (CBDT) has collected Rs 1,117,416.5 crore (11.17 lakh crore) in total direct taxes in FY 2018-19, a shortfall of around Rs 83,000 crore or 7.4 percent of the Rs 12 lakh crore collection target, as per data first accessed by Moneycontrol.
The collection is, however, 18.3 percent higher than last year.
Corporate tax collection during 2018-19 totalled Rs 662,748 crore (Rs 6.62 lakh crore) while income tax amounted to Rs 442,170 crore (Rs 4.42 lakh crore). STT collection was 11,527 crore, latest data until April 1 showed.
On March 26, CBDT had written to all Principal Chief Commissioners stating, "Progress in tax collection has been reviewed as against the targeted Rs 12 lakh crore. Only 85.1 percent of the targeted or Rs 10.21 lakh crore has been collected as of March 23. A head-wise analysis indicates negative growth in the regular collection at 6.9 percent as compared to a negative 5.2 percent last week. This is alarming and needs immediate attention."