Direct tax collection rises 15% to Rs4.39 trillion in April-October
New Delhi: The government has collected Rs4.39 trillion in direct taxes, up 15.2% year-on- year, during the first seven months of the current fiscal.
The collection, which includes personal income tax and corporate tax, represents 44.8% of the total budget estimates of Rs9.8 trillion in direct taxes for 2017-18.
“The provisional figures of direct tax collections up to October, 2017 show that net collections are at Rs4.39 trillion which is 15.2% higher than the net collections for the corresponding period of last year,” a finance ministry statement said.
Gross collections (before adjusting for refunds) have increased 10.7% to Rs5.28 trillion during April- October, 2017. Refunds amounting to Rs89,507 crore were issued during the seven month period.