Direct Tax Collections for F.Y. 2017-2018 : Growth of 18.2% up to December 2017

By | January 10, 2018
(Last Updated On: January 10, 2018)
Ministry of Finance

Direct Tax Collections for F.Y. 2017-2018 show Growth of 18.2% up to December, 2017

Posted On: 09 JAN 2018 11:31AM by PIB Delhi

The provisional figures of Direct Tax collections up to December, 2017 show that net collections are at Rs. 6.56 lakh crore which is 18.2% higher than the net collections for the corresponding period of last year. The net Direct Tax collections represent 67% of the total Budget Estimates of Direct Taxes for Financial Year (F.Y.) 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 12.6% to Rs. 7.68 lakh crore during April to December, 2017. Refunds amounting to Rs.1.12 lakh crorehave been issued during April to December, 2017.

An amount of Rs. 3.18 lakh crore has been received as Advance Tax up to December, 2017 reflecting a growth of 12.7% over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Income Tax (CIT) Advance Tax is 10.9% and that in Personal Income Tax (PIT) Advance Tax is 21.6%.

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