Direct tax collections jump 16% to Rs 3.86 lakh crore in April-September
The growth in Corporate Income Tax Advance Tax is 8.1% and that in Personal Income Tax Advance Tax is 30.1%.india Updated: Oct 11, 2017 22:00 IST
India’s direct tax collections for April-September rose 15.8% 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% 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%higherthan 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%over the corresponding period a year ago.
The growth inCorporate IncomeTax (CIT)Advance Tax is8.1%and that inPersonal Income Tax (PIT)Advance Tax is30.1%.
Refunds amounting toRs 79,660crorehave been issued during April-September 2017.
Gross direct tax collections (before adjusting for refunds) have increased by10.3% toRs4.66 lakhcroreduring April - September, 2017.