ALSO READNet direct tax collections grow 16% to Rs 3.86 lakh cr in April-Sept Nearly 15% growth in direct tax collections for FY18: CBDT Demonetisation effect: Direct tax mop-up grows 15% to Rs 1.42 lakh cr in Q1 Demonetisation impact: Direct tax collection up 19% at Rs 1.9 lakh cr Note ban led to 15.7% increase in direct tax collections: Jaitley
India's direct tax collections for April-September rose 15.8 per cent to Rs 3.86 lakh crore, buoyed by a healthy growth in advance tax mop-up, the finance ministry said. The net direct tax collectionsconstitute39.4 per cent of the total budget estimate of direct taxes at Rs 9.8 lakh crore for the current fiscal. The provisionalfiguresofdirect tax up toSeptember 2017show that net collections stood atRs 3.86 lakh crore which is15.8 per centhigherthan the corresponding period last year, the finance ministry said in a statement. Advance tax collections till September stood at Rs 1.77 lakh crore,reflecting a growth of11.5 per centover the corresponding period a year ago. The growth inCorporate IncomeTax (CIT)Advance Tax is8.1 per centand that inPersonal Income Tax (PIT)Advance Tax is30.1 per cent. Refunds amounting toRs 79,660crorehave been issued during April-September 2017. Gross direct tax collections (before adjusting for refunds) have increased by10.3 per centtoRs4.66 lakhcroreduring April - September, 2017.