Net direct tax collections grow 16% to Rs 3.86 lakh cr in April-Sept

The provisional figures of direct tax collections up to September 2017 show that net collections are at Rs 3.86 lakh crore, which is 15.8 per cent higher than the net collections for the corresponding period last year, Central Board of Direct Taxes (CBDT) said on Wednesday. 

The net direct tax collections represent 39.4 per cent of the total budget estimates 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 to September, 2017. The 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 tax up to September 30, 2017 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.