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Net direct tax collections up 15.8% in April-September

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Direct Tax, Collection, Growth

NEW DELHI:  The Centre's net direct tax collections grew 15.8 per cent in April-September 2017 to touch Rs. 3.86 lakh crore.

This represents 39.4 per cent of the total budget estimate of direct taxes for 2017-18 (Rs 9.8 lakh crore).

Gross collections (before adjusting for refunds) have increased by 10.3 per cent to Rs. 4.66 lakh crore during April-September 2017, an official release said.

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

An amount of Rs. 1.77 lakh crore had been received as advance tax up to September 30, reflecting a growth of 11.5 per cent over the advance tax payments of the corresponding period of last year. The growth in corporate income tax (CIT) advance tax is 8.1 per cent and that in personal income tax (PIT) advance tax is 30.1 per cent.

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