Direct tax collection in FY18 has exceeded the target of Rs 9.8 lakh crores to Rs 9.95 lakh crores with a record 6.84 crores income tax returns being filed versus 5.43 crore in the previous year, according to CBDT chairman Sushil Chandra. The provisional figures show that the Direct Tax collections in FY18 recorded a 17.1% increase over FY17. Gross collections (before adjusting for refunds) in FY 2017-18 increased by 13 percent to Rs.11.44 lakh crore, while refunds amounting to Rs.1.49 lakh crore were issued during 2017-18. The CBDT Chairman stated that the growth rate for net collections for Corporate Income Tax (CIT) is 17.1 percent and for Personal Income Tax (including STT) is 18.9 percent. However, he reiterated that the aforesaid figures are provisional and subject to change pending final collation of data of collections. During FY 2017-18, the number of new ITR filers has also increased to 99.49 lakh (as on March 30) as compared to 85.51 lakh new ITR filers added during FY 2016-17, which translates into a growth of 16.3 percent.