Direct Tax Collection Grew By 18.2% In April-December

Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

    During April-December of the current financial year 2017-18, direct tax collection by the government grew by 18.2% at Rs. 6.56 lakh crore. The finance ministry in a statement said that the provisional numbers point at an increase in direct tax collection.

    Direct Tax Collection Grew By 18.2% In April-December

    Direct tax comprises income tax paid by individuals, corporate tax and wealth tax.

    The statement said that, "The net direct tax collections represent 67 per cent of the total Budget Estimates of direct taxes for FY2017-18 (Rs 9.8 lakh crore)".

    Before accounting for refunds, collections on a gross basis have increased to Rs. 7.68 lakh crore, an increase of 12.7% during the nine months to December 2017. In the period, the Income tax department has issued refunds amounting to Rs. 1.12 lakh crore.
    The collection of advance tax was up by 12.7% at Rs 3.18 lakh crore.

    With Inputs From PTI

    Story first published: Tuesday, January 9, 2018, 15:09 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more