May 23, 2018 / 12:50 PM / a month ago

India's 2017/18 net direct tax collection rises 18 percent to 10.03 trillion rupees

NEW DELHI (Reuters) - India’s net direct tax collection in 2017/18 stood at 10.03 trillion rupees, up 18 percent on year, the finance ministry said on Wednesday.

Passengers wait in front of an income tax billboard at a bus stop in New Delhi, September 26, 2016. REUTERS/Adnan Abidi/Files

The growth was the fastest in seven fiscal years.

Last month, a finance ministry official had said the country’s direct tax mop-up had exceeded the budget target.

Reporting by Neha Dasgupta and Nidhi Verma; Editing by Subhranshu Sahu

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