Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 6th July, 2017.
PRESS RELEASE
Direct Tax Collections for F.Y. 2017-2018 show Growth of 14.8%
The provisional figures for Direct Tax collections up to June, 2017 show that net collections are at
Rs. 1.42 lakh crore which is 14.8% higher than the net collections for the corresponding period
of last year. Net direct tax collections represent 14.5% of the total Budget Estimates of direct taxes
for F.Y. 2017-18 (Rs. 9.8 lakh crore).
While the gross collection under Corporate Income Tax (CIT) grew at 4.8%, the growth under Personal Income Tax (PIT) including Securities Transaction Tax (STT) is 12.9%. However, after adjusting for refunds, the net growth in CIT collections is 22.4% while that in PIT is 8.5%. Refunds
amounting to Rs.55,520 crore have been issued during April to June, 2017, which is 5.2% lower than the refunds issued during corresponding period of F.Y. 2016-17.
An amount of Rs.58,783 crore has been received as Advance Tax up to 30th June, 2017 reflecting a growth of 11.9% over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Advance Tax is at 8.1% and that in Personal Advance Tax is at 40.3%.
(Meenakshi J. Goswami)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
.
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