Direct tax collection until February of FY18 has risen nearly 20 percent. Corporate income tax collection has grown 19.7 percent and personal income tax collection has risen 18.6 percent. In an interview to CNBC-TV18, A Prasanna, Chief Economist at ICICI Securities Primary Dealership spoke whether these numbers are better than what market was expecting, how they compare with revised estimates and is that the reason why you are seeing some kind of relief in the bond markets.
Prasanna said that the Income Tax department seems to be holding back refunds which is bumping up tax numbers.
He further said that the outlook for corporate tax looks good for next year as well.
According to him, revised tax collection target of Rs 10 lakh crore for FY18, should be met.
We expect good growth in domestic consumption and exports in 2018, he added.
For entire interview, watch accompanying video.
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