Direct tax collection for financial year 2017-18 increases 15.2%
Gross collections (before adjusting for refunds) have increased 10.7 per cent to Rs 5.28 lakh crore during April- October, 2017.
The Central Board of Direct Taxes (CBDT) on Tuesday said that the direct tax collections for the financial year 2017-2018 witnessed growth of 15.2% in October.
According to CBDT, the government has collected Rs 4.39 lakh crore in direct taxes, up 15.2 per cent year-on- year, during the first seven months of the current fiscal.
The collection, which includes personal income tax and corporate tax, represents 44.8 per cent of the total budget estimates of Rs 9.8 lakh crore in direct taxes for 2017-18.
"The provisional figures of Direct Tax collections up to October, 2017 show that net collections are at Rs 4.39 lakh crore which is 15.2 per cent higher than the net collections for the corresponding period of last year," a finance ministry statement said.
Gross collections (before adjusting for refunds) have increased 10.7 per cent to Rs 5.28 lakh crore during April- October, 2017.