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Direct Tax collected up to December '17 registers 18.2 pct growth

ANI  |  New Delhi [India] 

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 percent higher than the net collections for the corresponding period last year.

As per data released by the (CBDT), an amount of Rs. 3.18 lakh crore has been received as advance up to December, 2017, reflecting a growth of 12.7 percent over the advance payments of the corresponding period last year.

Further, the growth in Corporate Tax (CIT) advance tax is reported to be 10.9 percent, while that of Personal Tax (PIT) advance tax is 21.6 percent.

The net Direct Tax collections represent 67 percent of the total Budget Estimates of for F.Y. 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 12.6 percent to Rs. 7.68 lakh crore during April to December, 2017.

Furthermore, refunds to the tune of Rs.1.12 lakh crore have been issued from April to December, 2017.

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

First Published: Tue, January 09 2018. 12:15 IST