Direct tax col­lec­tions jump 16% to ₹3.86 lakh cr in Apr-sep

Millennium Post - - FRONT PAGE -

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 col­lec­tions con­sti­tute 39.4 per cent of the to­tal bud­get es­ti­mate of direct taxes at Rs 9.8 lakh crore for the cur­rent fis­cal.

The pro­vi­sional fig­ures of direct tax up to Septem­ber 2017 show that net col­lec­tions stood at Rs 3.86 lakh crore which is 15.8 per cent higher than 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 of 11.5 per cent over the cor­re­spond­ing pe­riod a year ago.

The growth in Cor­po­rate In­come Tax (CIT) Ad­vance Tax is 8.1 per cent and that in Per­sonal In­come Tax (PIT) Ad­vance Tax is 30.1 per cent.

Re­funds amount­ing to Rs 79,660 crore have been is­sued dur­ing April-septem­ber 2017.

Gross direct tax col­lec­tions (be­fore ad­just­ing for re­funds) have in­creased by 10.3 per cent to Rs 4.66 lakh crore dur­ing April - Septem­ber 2017.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.