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Principale » April-September income tax revenue up 15.8% at Rs 3.86 lakh cr

April-September income tax revenue up 15.8% at Rs 3.86 lakh cr

11 Octobre 2017

"The provisional figures of direct tax collections up to September, 2017 show that net collections are at Rs 3.86 lakh crore which is 15.8 per cent higher than the net collections for the corresponding period of a year ago", it said.

The Central Board of Direct Taxes (CBDT) on Wednesday released tax collections data of April-September period. Gross collections (before adjusting for refunds) increased by 10.3 percent to Rs. 4.66 lakh crore during April to September, 2017. Refunds worth Rs 79,660 crore were given out during April-September and this amount was deducted from the gross collections to arrive at the net direct tax collections.

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Advance tax receipts also swelled, with the total advance tax mop-up in April-September rising 11.5% on-year to Rs 1.77 lakh crore.

In a welcome development for the government, the country's direct tax collections have witnessed a major growth of 15.8 percent. While corporate advance tax collections rose 8.1% on-year during the period, the advance income tax collections saw a 30.1% on-year spike.The government estimates to collect Rs 9.80 lakh crore from direct taxes in the current fiscal. The net direct tax collection in the first half of FY18 witnessed a jump of almost 7% as compared to the same period last fiscal.

April-September income tax revenue up 15.8% at Rs 3.86 lakh cr