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Corporate tax cut impact? Direct taxes mop up down 17% in October

Brings down April-October growth to 2%, amidst slowdown

tax, fund, MF, mutual fund, credit, borrowers
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Abhishek Waghmare New Delhi
Collection of personal income tax and corporation taxes fell nearly 17 per cent in October, analysis of the data presented in Parliament shows. While the Central Board of Direct Taxes had collected Rs 61,475 crore in October 2018, the mop-up fell to Rs 50,715 crore in October 2019, the data suggests. 

Minister of State for Finance Anurag Thakur told Parliament on Monday, the direct tax collected in the seven months from April to October this year stood at Rs 5.18 trillion (gross collection minus refunds). The corresponding seven-month collection figure for 2018 was Rs 5.07 trillion, data from the Controller General

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