Wednesday , October 18 2017
Home / Business / Direct tax collections rise 16% in April-September

Direct tax collections rise 16% in April-September

The Finance Ministry on Wednesday said that the country’s direct tax collections for April-September rose 15.8% to Rs 3.86 lakh crore, buoyed by a healthy growth in advance tax mop-up.

The net direct tax collections constitute 39.4% of the total budget estimate of direct taxes at Rs 9.8 lakh crore for the current fiscal.

The provisional figures of direct tax up to September 2017 show that net collections stood at Rs 3.86 lakh crore which is 15.8% higher than the corresponding period last year, the finance ministry said.

Advance tax collections till September stood at Rs 1.77 lakh crore, reflecting a growth of 11.5% over the corresponding period a year ago.

The growth in Corporate Income Tax (CIT) Advance Tax is 8.1% and that in Personal Income Tax (PIT) Advance Tax is 30.1%.

Refunds amounting to Rs 79,660 crore have been issued during April-September 2017.

Gross direct tax collections (before adjusting for refunds) have increased by 10.3% to Rs 4.66 lakh crore during April – September, 2017.

(With inputs from PTI)

Source link

Check Also


Sensex, Nifty retreats from record on profit booking

The benchmark BSE Sensex retreated from record levels to trade lower by 56 points in …


Dhanteras 2017: Thinking of buying gold? Check out what are today’s rates in metro cities

With the festivities around, this year the yellow metal is shining the brightest. Of all …

Leave a Reply

Your email address will not be published. Required fields are marked *