Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 09th August, 2017.Online GST Certification Course by TaxGuru & MSME- Click here to Join
Direct Tax Collections up to July, 2017 show Growth of 19.1%
The Direct Tax collections up to July, 2017 continue to register steady growth. Direct Tax collection, net of refunds, stands at Rs. 1.90 lakh crore which is 19.1% higher than the net collections for the corresponding period of last year. This collection is 19.5% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18.
So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 7.2% while that for PIT (including STT) is 17.5%. However, after adjusting for refunds, the net growth in CIT collections is 23.2% while that in PIT collections is 15.7%. Refunds amounting to Rs. 61,920 crore have been issued during April, 2017 to July, 2017 which are 5.1% lower than the refunds issued during the corresponding period of Financial Year 2016-17.
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT