Direct Tax collection increases by over 21%
DSIJ Intelligence / 02 Aug 2017
The Government of India has garnered over Rs 1.80 lakh crore in direct tax till July 15 in the current FY18, representing a growth of 21.4% YoY.
The Government of India has garnered over Rs 1.80 lakh crore in direct tax till July 15 in the current FY18, representing a growth of 21.4% YoY.
The current growth rate is higher than the target rate of 15.32 required to achieve the Union Budget estimate. Through direct taxes, the government aims to collect Rs 9.8 lakh crore in FY18.
On the other hand, the number of cyber-crimes pertaining to credit card, ATM, debit card and internet banking has shown a marginal increase of 4.4% to 13,653 in 2016-17 from 13,083 in 2014-15.
However, the Reserve Bank of India has mandated the banks to put in place a board-approved cyber-security policy, which covers the risks threats and the measures to address these risks.
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