Direct taxes revenues defy lockdown, jump 36.6% in April 

#GS3 #Economy  

Mumbai records 500% jump, followed by Bengaluru at 160% 

  • Direct tax collection recorded a healthy growth in April despite the nationwide lockdown and grew by 36.6%.  
  • Income tax collection in April was ₹19,762.1 crore while corporate tax collection was ₹14,608.1 crore.  

Revised targets  

  • The government is expected to miss the direct tax collection target for the financial year 2019-20.   
  • The revised estimate has pegged the target for collection of direct taxes for 2019-20 at ₹11.70 lakh crore.   
  • The government had collected over ₹7.52 lakh crore as direct taxes till January 31.  
  • GST collection in April and May could decline drastically as the number of electronic permits for transporting goods are down 80% in April.   
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