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of <h1>Direct Tax Collections Surge 14.1% in FY 2018-19; Refunds Rise 17%; CIT and PIT Show Strong Growth.</h1> Direct tax collections for the fiscal year 2018-19 up to December 2018 reached Rs. 8.74 lakh crore, marking a 14.1% increase from the previous year. Refunds issued amounted to Rs. 1.30 lakh crore, a 17% rise. Net collections, after refunds, grew by 13.6% to Rs. 7.43 lakh crore, representing 64.7% of the total budget estimate of Rs. 11.50 lakh crore. Corporate Income Tax (CIT) gross collections grew by 14.8%, while Personal Income Tax (PIT), including Securities Transaction Tax, grew by 17.2%. Net growth after refunds was 16% for CIT and 14.8% for PIT. Advance Tax collections increased by 14.5% to Rs. 3.64 lakh crore.
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