Direct Tax Collections for F.Y. 2017-2018 show Growth of 15.8% up to September, 2017

The provisional figures of Direct Tax collections up to September, 2017 show that net collections are at ₹ 3.86 lakh crore which is 15.8% higher than the net collections for the corresponding period of last year. Net Direct Tax collections represent 39.4% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 10.3% to ₹ 4.66 lakh crore during April to September, 2017. Refunds amounting to Rs.79,660 crore have been issued during April to September, 2017. 

An amount of ₹ 1.77 lakh crore has been received as Advance Tax up to 30th September, 2017 reflecting a growth of 11.5%over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Income Tax(CIT) Advance Tax is 8.1% and that in Personal Income Tax(PIT) Advance Tax is 30.1%.