Direct taxes revenues defy lockdown, jump 36.6% in April
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.
- 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.