Direct tax collections rise 14% to Rs 4.8 lakh crore in April-November

The gross collections (before adjusting for refunds) have increased by 10.7% to Rs 5.82 lakh crore during April-November, 2017

Direct tax collections increased by 14.4% to Rs 4.8 lakh crore during April-November this fiscal.

Refunds amounting to Rs 1.02 lakh crore have been issued during April-November, 2017 (Mint File)

“The provisional figures of Direct Tax collections up to November, 2017 show that net collections are at Rs 4.8 lakh crore, which is 14.4% higher than the net collections for the corresponding period of last year,” Central Board of Direct Taxes said in a statement.

According to the statement, the net direct tax collections represent 49% of the total Budget Estimates of direct taxes for 2017-18 (Rs 9.8 lakh crore).

The gross collections (before adjusting for refunds) have increased by 10.7% to Rs 5.82 lakh crore during April-November, 2017.

Refunds amounting to Rs 1.02 lakh crore have been issued during April-November, 2017, it added.