You are here: Home » Economy & Policy » News
Business Standard

Direct tax collections jump 16% to Rs 3.86 lakh cr in Apr-Sep

An amount of Rs 1.77 lakh crore has been received as advance tax up to September 30, 2017

Net Direct Tax Collections

Press Trust of India  |  New Delhi 

The country's gross revenue collection also grew 11.81 per cent at Rs 3,36,402.6 crore from Rs 3,00,874,6 crore a year ago
Representative Image

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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 12 2017. 02:17 IST