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    Gross direct tax collection rises by 5% till November: Nirmala Sitharaman

    Synopsis

    Replying to a barrage of criticism, she said "I have been told that I am the worst Finance Minister, they're not even waiting for me to finish my term. I told them that please give me more ideas, we will work on it. If there's a govt that listens, it is PM Modi's government."

    Nirmala Sitharaman said several domestic and global firms have expressed interest in investment post announcement of the reduction in corporate tax rate.
    NEW DELHI: Gross direct tax collection increased by 5 per cent till November, Finance Minister Nirmala Sitharaman said on Monday as she allayed fears of corporate tax reduction impacting revenue collection.

    Replying to a debate on Taxation Law Amendment Bill, 2019 in the Lok Sabha, the minister categorically said there is no decrease in direct tax collection.

    In fact, there is an increase of 5 per cent in the gross direct tax collection till November this fiscal, she said.

    Historically, maximum collection of direct taxes happens in the last quarter of the fiscal, she added.

    The main objective of the reduction in corporate tax was aimed at attracting fresh investment in the manufacturing sector.

    Sitharaman said several domestic and global firms have expressed interest in investment post announcement of the reduction in corporate tax rate.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

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    15 Comments on this Story

    Gabby Jd244 days ago
    Who is he and who is she for the country men....? Only a con couple doing Money laundering business and illegal investments abroad. Only when they go to prison, the police can escort them. That is the law of this country.
    Venkata Chavali245 days ago
    In the increased amount of tax collections, how much are tax overdues
    Jitendrakumar Nalawade245 days ago
    Good
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