Direct tax collections record 15.8% growth in April-Sep period

The direct tax collections represent 39.4 per cent of the total Budget estimates of direct taxes for FY 2017-18 (Rs 9.8 lakh crore), said the Ministry of Finance in a press note.

Net direct tax collections for the April-September period stand at Rs 3.86 lakh crore, which is 15.8 per cent higher than the collection of same period previous year. 
 
"Net direct tax collections represent 39.4 per cent of the total Budget estimates of direct taxes for FY 2017-18 (Rs 9.8 lakh crore)," said the Ministry of Finance in a press note on Wednesday. 
 
Gross collections (before adjusting for refunds) have increased by 10.3 per cent to Rs 4.66 lakh crore during April to September, 2017. 
 
As per the note, refunds amounting to Rs 79,660 crore have been issued during April to September, 2017. 
 
The government received an amount of Rs 1.77 lakh crore as advance tax till 30 September 2017, recording a growth of 11.5 per cent over the advance tax payments of the corresponding period of last year. 
 
The Ministry of Finance said the growth in the advance tax of the corporate income tax (CIT) is 8.1 per cent and that in personal income tax (PIT) is 30.1 per cent.
 
Source: PIB 

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