Direct tax collections show growth of 15.2% in Apr-Oct

The Dollar Business Bureau

Direct tax collection was increased by 15.2% to Rs.4.39 lakh crore in the seven-month period of the current fiscal, the Government said on Tuesday.

“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% higher than the net collections for the corresponding period of last year,” Ministry of Finance said in a statement.

The net direct tax collections upto October this year represent 44.8% of the overall annual budget estimates of direct taxes of Rs. 9.8 lakh crore, it added.

During April-October, gross collections (before adjusting for refunds) have recorded a growth of 10.7% to Rs.5.28 lakh crore. 

Refunds amounting to Rs.89,507 crore have been issued during April to October, 2017, the statement said.