September 20, 2024
Direct taxes revenues defy lockdown, jump 36.6% in April

Direct taxes revenues defy lockdown, jump 36.6% in April

Economy

Direct Taxes Revenues Defy Lockdown, Jump 36.6% in April

Direct tax collection recorded a healthy growth in April despite the nationwide lockdown and grew by 36.6%.

By Kautilya / May 3, 2020

Direct tax collection recorded a healthy growth in April despite the nationwide lockdown and grew by 36.6%.

Data accessed by The Hindu showed that the net direct tax collection for April 2020 was ₹34,780.4 crore as compared to ₹25,466 crore recorded in April 2019, a jump of 36.6%.

Income tax collection in April was ₹19,762.1 crore while corporate tax collection was ₹14,608.1 crore.

The Central Board of Direct Taxes (CBDT) had convened a video-conference on Friday with tax commissioners to review the collection position during the lockdown period. The collection figures of different zones were discussed during the meeting.

The department noted the effort of the officers in ensuring healthy growth of tax collection in these testing times. Among the zones, Mumbai reported a massive 500% growth in net tax collections, followed by Bengaluru that reported 160% growth. Delhi, at number three, reported a 34% growth in April.

Source: The Hindu

Image Courtesy: Business Standard

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