Di­rect tax mop-up soars 18% to ₹6.56 lakh cr dur­ing Apr-dec

Millennium Post - - FRONT PAGE -

NEW DELHI: The govern­ment has col­lected Rs 6.56 lakh crore in di­rect taxes, up 18.2 per­cent on hefty ad­vance tax mopup, for the April-De­cem­ber pe­riod of the cur­rent fis­cal.

The net col­lec­tions rep­re­sent 67 per cent of the to­tal Bud­get Es­ti­mate of Rs 9.8 lakh crore for di­rect taxes in 2017 -18.

Di­rect taxes com­prise in­come tax paid by in­di­vid­u­als, cor­po­rate tax and wealth tax.

Re­funds amount­ing to Rs 1.12 lakh crore have been is­sued dur­ing the first nine months of the cur­rent fis­cal.

Gross di­rect tax col­lec­tions (be­fore ad­just­ing for re­funds) have in­creased by 12.6 per­cent to Rs 7.68 lakh crore.

“The pro­vi­sional fig­ures of Di­rect Tax col­lec­tions up to De­cem­ber 2017 show that net col­lec­tions are at Rs 6.56 lakh crore which is 18.2 per­cent higher than the net col­lec­tions for the cor­re­spond­ing pe­riod of last year,” the fi­nance min­istry said in a state­ment.

As much as Rs 3.18 lakh crore has been re­ceived as ad­vance tax up to De­cem­ber 201718, re­flect­ing a growth of 12.7 per­cent over the year-ago pe­riod.

Growth in ad­vance tax paid by cor­po­rates is 10.9 per­cent, while in case of per­sonal in­come tax it is 21.6 per­cent.

The govern­ment had last fis­cal ex­ceeded the di­rect tax col­lec­tion tar­get set in the Bud­get. It had col­lected over Rs 8.49 lakh crore against the Bud­get es­ti­mate of Rs 8.47 lakh crore.

Fo­cussing on strength­en­ing of party, no al­liances as of now


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