Fall in direct tax collection on expected lines and temporary: CBDT

The CBDT said the assertion that in spite of the tax reforms, the investment has not been picking up is not correct and is without an appreciation of the reality of the business world

The Central Body of Direct Taxes (CBDT) on Sunday informed that net direct tax collection for the FY 2019-20 was less than that in comparison to FY 2018-19 but highlighted that this fall in the collection of direct taxes is on "expected lines" and is "temporary" in nature due to the historic tax reforms and much higher refunds issued during the FY 2019-20.

"There are reports in a certain section of media that the growth of direct taxes collection for the FY 2019-20 has fallen drastically and buoyancy of the direct tax collection as compared to the GDP growth has