Direct Tax Collections for F.Y. 2017-2018 show Growth of 18.2% up to December, 2017



Direct Tax Collections for F.Y. 2017-2018 show Growth of 18.2% up to December 2017

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% higher than the net collections for the corresponding period of last year. The net Direct Tax collections represent 67% of the total Budget Estimates of Direct Taxes for Financial Year (F.Y.) 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 12.6% to Rs. 7.68 lakh crore from April to December 2017. Refunds amounting to Rs.1.12 lakh crore have been issued during April to December 2017. 


The growth in Corporate Income Tax (CIT) Advance Tax is 10.9% and that in Personal Income Tax (PIT) Advance Tax is 21.6%.


Key highlights:


Direct tax collections rise 18.2% in April-December 2017 

Gross collections (before adjusting for refunds) have increased by 12.6% to Rs. 7.68 lakh crore
Growth in CIT Advance Tax is 10.9% and that in PIT Advance Tax is 21.6%


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