Gross direct tax collection rises by 5% till Nov: FM

| | New Delhi
  • 0

Gross direct tax collection rises by 5% till Nov: FM

Tuesday, 03 December 2019 | PTI | New Delhi

Gross direct tax collection increased by 5 per cent till November, Finance Minister Nirmala Sitharaman said on Monday as she allayed fears of corporate tax reduction impacting revenue collection.

Replying to a debate on Taxation Law Amendment Bill, 2019 in the Lok Sabha, the minister categorically said there is no decrease in direct tax collection. In fact, there is an increase of 5 per cent in the gross direct tax collection till November this fiscal, she said.

Historically, maximum collection of direct taxes happens in the last quarter of the fiscal, she added. The main objective of the reduction in corporate tax was aimed at attracting fresh investment in the manufacturing sector.

Sunday Edition

Mindful Eating, ghar ka khaana continue to rule

08 December 2019 | Rushina Munshaw-Ghildiyal | Agenda

The Business of Karma

08 December 2019 | Hingori | Agenda

I am because of Me

08 December 2019 | Apurva Purohit | Agenda

What should a soul do?

08 December 2019 | Ajit Kumar Bishnoi | Agenda

Astroturf | God helps those who help themselves

08 December 2019 | Bharat Bhushan Padmadeo | Agenda

Whisper to your dog

08 December 2019 | Shalini Saksena | Sunday Pioneer