Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
News

Home News News and Press Release Month 12 2016 2016 (12) This

Direct Tax Collections for November, 2016 show Growth of 15.12 %

9-12-2016
  • Contents

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, 09 December, 2016.

PRESS RELEASE

Sub: Direct Tax Collections for November, 2016 show Growth of 15.12 %

The figures for Direct Tax collections up to November, 2016 show that net collections are at ₹ 4.12 lakh crore which is 15.12% more than the net collections for the corresponding period last year. This collection is 48.67% of the total Budget Estimates of Direct Taxes for F.Y. 2016-17.

As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 11.22% while that under PIT (including STT) is 22.41%. However, after adjusting for refunds, the net growth in CIT collections is 8.75% while that in PIT collections is 23.89%. Refunds amounting to Rs.1,05,561 crore have been issued during April-November, 2016, which is 17.35% higher than the refunds issued during the corresponding period last year.

(Meenakshi J.Goswami)

Commissioner of Income Tax

(Media and Technical Policy)

Official Spokesperson, CBDT.

Quick Updates:Latest Updates