Direct tax collection rises 18.2%

Direct tax collection has increased by 18.2 percent during April to December last year as compared to the corresponding period of 2016.

The government has collected over 6 lakh 50,000 crore rupees during the first nine months of the current fiscal.

The collection, which includes personal income tax and corporate tax, represents 67 per cent of the total budget estimates in direct taxes for 2017-18.

In a statement, the Finance Ministry said the gross collections have increased by 12.6 per cent to over 7 lakh 60,000 crores during April to December. Refunds amounting to over 1 lakh crores were issued during the period.

Nearly 3 lakh crore rupees have been received as Advance Tax up to last month reflecting a growth of 12.7 per cent over the Advance Tax payments of the corresponding period of last year.

The growth in Corporate Income Tax Advance Tax is 10.9 per cent and that in Personal Income Tax Advance Tax is 21.6 per cent.

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