Direct tax collections up 18.2% in April-Dec

The provisional figures of Direct Tax collections up to December 2017 show that net collections are at Rs6.56 lakh cr, which is 18.2% higher than the net collections for the corresponding period of last year.

The net Direct Tax collections represent 67% of the total Budget Estimates of Direct Taxes for FY2017-18 (Rs9.8 lakh cr). Gross collections (before adjusting for refunds) have increased by 12.6% to Rs7.68 lakh cr during April to December, 2017. Refunds amounting to Rs1.12 lakh cr have been issued during April to December, 2017.

An amount of Rs3.18 lakh cr has been received as Advance Tax up to December, 2017 reflecting a growth of 12.7% over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Income Tax (CIT) Advance Tax is 10.9% and that in Personal Income Tax (PIT) Advance Tax is 21.6%.  

 

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