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Direct tax boost before Budget: Apr-Dec collection up 18.2% at Rs 6.6 trn

The net direct tax collections represent 67% of total Budget Estimates of direct taxes for FY2017-18 is Rs 9.8 trillion: Finance Ministry

Press Trust of India  |  New Delhi 

Direct tax collection boosts before Budget 2018
Illustration by Ajay Mohanty

soared 18.2 per cent during the first nine months of the current financial year at Rs 6.56 trillion, (Rs 6.56 lakh crore) the said on Tuesday.

In a statement, the ministry said provisional numbers for collections showed an 18.2 per cent growth during April-December.

are made up of income tax paid by individuals, wealth tax and corporation tax paid by companies.

"The net represent 67 per cent of the total Estimates of for FY2017-18 is Rs 9.8 trillion, (Rs 9.8 lakh crore)," the statement said.

(before adjusting for refunds) have increased by 12.6 per cent to Rs 7.68 lakh crore during April to December, 2017.

As many as Rs 1.12 lakh crore refunds have been issued in the period.

The ministry said advance tax collection was up 12.7 per cent at Rs 3.18 lakh crore.

While the growth in corporate income tax advance tax is 10.9 per cent, that in personal Income Tax advance tax is 21.6 per cent.

First Published: Tue, January 09 2018. 12:10 IST
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