Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 4th April, 2017.
PRESS RELEASE
CBDT accomplishes the Direct Taxes Collection Target for F.Y. 2016-17
The provisional figures for revenue collections up to March, 2017 show a gross Direct Tax collection of Rs. 10.09 lakh crore. The net collection after issue of refunds stands at Rs. 8.47 lakh crore which is 14.2% higher than the net collection for the corresponding period last year. With this the CBDT has accomplished 100% of the direct tax target for Financial Year 2016-1 7.
Refunds amounting to Rs. 1.62 lakh crore have been issued during April 2016-March 2017, which is 32.6% higher than the refunds issued during the same period for F.Y. 2015-16. This has substantially reduced the grievances of tax payers.
While the gross collection under Corporate Income Tax (CIT) grew at 13.1% during the year, the growth under Personal Income Tax (PIT) including Securities Transaction Tax (STT) is 18.4%. However, after adjusting for refunds, the net growth in CIT is 6.7% while that in PIT is 21.0%.
(Meenakshi J. Goswami)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT.
