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Direct Tax Collections for F.Y. 2017-2018 show Growth of 15.8% up to September, 2017

Capital Market 

The provisional figures of Direct collections up to September, 2017 show that net collections are at Rs. 3.86 lakh crore which is 15.8% higher than the net collections for the corresponding period of last year. Net Direct collections represent 39.4% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 10.3% to Rs. 4.66 lakh crore during April to September, 2017. Refunds amounting to Rs.79,660 crore have been issued during April to September, 2017.

An amount of Rs. 1.77 lakh crore has been received as Advance up to 30th September, 2017 reflecting a growth of 11.5%over the Advance payments of the corresponding period of last year. The growth in Corporate (CIT) Advance is 8.1% and that in Personal (PIT) Advance is 30.1%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 12 2017. 14:08 IST
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