April-February direct tax mop-up down 3.5%

New Delhi: The government's direct tax collections stood at 8.14 trln rupees in Apr-Feb, Minister of State for Finance Anurag Thakur informed the Lok Sabha today.

In the corresponding period last year, direct tax collections were 8.44 trln rupees.

As such, this year's mop-up is down 3.5%.

The Centre revised down the target for direct tax collections for 2019-20 (Apr-Mar) by 1.65 trln rupees to 11.70 trln rupees.

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However, to meet even the revised target, the government must get over 3.5 trln rupees as direct taxes in March.

In March 2019, the Centre collected 2.89 trln rupees as direct taxes. Since then, it has cut the corporate tax rate at an annual cost of 1.45 trln rupees to the exchequer.

In Apr-Jan, the Centre's corporate tax collections were 13.5% lower compared with the corresponding year-ago period.