Direct Tax Collections At Rs 7.52 Lakh Cr Till Jan 31: Govt
New Delhi: Government has collected over Rs 7.52 lakh crore as direct taxes till January 31 of the current fiscal, Rajya Sabha was informed on Tuesday.
According to the Revised Estimate (RE), target for collection of direct taxes for the current fiscal year, which ends on March 31, at Rs 11.70 lakh crore.
“The total amount collected under direct tax collection, as on 31st January, 2020 is Rs 7,52,472 crore,” Minister of State for Finance Anurag Thakur said in a written reply in the Rajya Sabha.
He said the last advance tax instalment is due in March 2020, and hence it is little premature to predict the final collection of direct taxes for the current year at this stage.
Thakur said RE for current fiscal has projected revenue receipts at Rs 18.50 lakh crore, lower than Rs 19.62 lakh crore projected in the Budget.
“Lower estimated RE 2019-20 in respect of corporation tax, taxes on income, customs duty , excise duty and Goods and Services Tax resulted in the revenue receipts being lower than the budget targets,” Thakur said.