Direct tax collection in the fiscal year 2017-18 has exceeded the targets with a record 68.4 million income tax returns being filed, officials said. Also, Direct tax collections in 2017-18 at Rs 9.95 trillion, exceeded the revised budgetary target of Rs 9.8 trillion.
A net of 9.95 million new assessees were added to the tax net in FY18, says CBDT Chairman. 68.4 million ITRs was filed in the year against 54.3 million in the previous year he added.
This means that the Direct tax collections in 2017-18 at Rs 9.95 trillion, exceeds the revised budgetary target of Rs 9.8 trillion!
