Direct tax collection exceeds target in FY18, record number of I-T returns filed

Direct tax collection in the just-concluded fiscal year has exceeded targets with a record 6.84 lakh income tax returns being filed, officials said on Monday.

Direct tax collections in 2017-18 at Rs 9.95 lakh crore, exceeded the revised budgetary target of Rs 9.8 lakh crore.

Also, 6.84 crore income tax returns filed in the year against 5.43 crore in the previous year, CBDT chairman told reporters here.

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A net of 99.5 lakh new assessees were added to the tax net.