Current Affairs Telugu Daily

Direct tax collection rises 18.2% in Apr-Dec

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). from April to December 2017 Gross collections adjusting have increased by 12.6% to Rs. 7.68 lakh crore. Refunds amounting to Rs.1.12 lakh crore have 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 for 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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