You are here: Home » News-CM » Economy » News
Business Standard

Direct Tax Collections for F.Y. 2017-2018 show Growth of 18.2% up to December, 2017

Capital Market 

The provisional figures of Direct collections up to December, 2017 show that net collections are at Rs. 6.56 lakh crore which is 18.2% higher than the net collections for the corresponding period of last year. The net Direct collections represent 67% of the total Budget Estimates of Direct Taxes for Financial Year (F. Y.) 2017-18 (Rs. 9.8 lakh crore).

Gross collections (before adjusting for refunds) have increased by 12.6% to Rs. 7.68 lakh crore during April to December, 2017. Refunds amounting to Rs.1.12 lakh crore have been issued during April to December, 2017.

An amount of Rs. 3.18 lakh crore has been received as Advance 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 Tax (CIT) Advance Tax is 10.9% and that in Personal Tax (PIT) Advance Tax is 21.6%.

Powered by Capital Market - Live News

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

First Published: Tue, January 09 2018. 11:39 IST