Direct tax collection at Rs 5.47 lakh crore till February 13

Feb. 23, 2016: The government has collected Rs. 5.47 lakh crore from direct taxes on Feb. 13, 2016. This collection is 68.7 per cent of the budget target for the fiscal year 2015-16.

"Net (direct tax) collection was Rs 5.47 lakh crore as on February 13, 2016. This amount is 68.7 per cent of the target of Rs 7.96 lakh crore," Central Board of Direct Taxes (CBDT) member Surabhi Sinha has said.

 

Direct Tax Collection

 

The tax that is imposed on the income of a person is known as the direct tax. It doesn’t include service and goods tax.

There is a projected shortfall of Rs. 40, 000 crore in the collection of direct taxes in current budget year 2015-16.  However, the government is expecting to cover this shortfall with the help of indirect tax revenues.