India, Jan. 16 -- According to the Central Board of Direct Taxes (CBDT), during the April-December period of the financial year 2018-19, the government's income tax revenues stood at Rs.7.43 lakh crore, which is 13.6 per cent more than the same period of the previous financial year, whereas the advance tax collection stood 14.5 per cent more than the last FY.
The advance tax collection has reached Rs.3.64 lakh crore. As per CBDT, "unprecedented income tax collection" has happened in the last 2 years. Based on the income tax collection figures, it can be said that the increase in direct tax collection is in line with expectations. Generally, advance tax receipts increase in March, because the tax payers usually deposit advance tax in the mo...