The provisional figures of Direct Tax collections up to January, 2018 show that net collections are at Rs.6.95 lakh crore which is 19.3% higher than the net collections for the corresponding period of last year.
The net Direct Tax collections represent 69.2% of the Revised Estimates of Direct Taxes for F.Y. 2017-18 (Rs.10.05 lakh crore).Gross collections (before adjusting for refunds) have increased by 13.3% to Rs.8.21 lakh crore during April 2017 to January 2018.
Refunds amounting to Rs.1.26 lakh crore have been issued during April 2017 to January 2018.
The Growth Rate for Net Collections for Corporate Income Tax (CIT) is 19.2% and for Personal Income Tax (PIT) is 18.6%.Tags : Others