Direct tax receipts soar 17.5% in April-August

Collections at Rs 2.24 lakh crore higher than government estimates

Direct taxes fetched 17.5 per cent higher receipts to the exchequer for the first five months (April-August) of the current financial year (FY18), more than what was projected for the entire financial year. However, the growth rate slowed in August.

Direct tax collections, net of refunds, stood at Rs 2.24 lakh crore during the April-August period of FY18.

The receipts had grown 19.1 per cent in the first four months of FY18.

The government had projected 9.8 lakh crore from the direct taxes — corporation tax and personal income tax — in 2017-18, which would be 15.7 per cent