Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: 4.0
Article rating: 5.0
Article rating: 3.3
Article rating: 5.0
Article rating: 4.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.3
Article rating: 1.0
Article rating: No rating
RSS

News

Direct tax collections surges 18.7% to Rs 6.89 lakh cr

Author: IANS/Thursday, January 18, 2018/Categories: Tax

Direct tax collections surges 18.7% to Rs 6.89 lakh cr

New Delhi - The net Direct Tax collections by the government up to January 15 in the current fiscal (2017-18) stood at Rs 6.89 lakh crore (provisional) -- which is 18.7% higher than during the corresponding period of last year, it was announced.

The net Direct Tax collections represent 70.3% of the total Budget Estimates of Direct Taxes for 2017-18 (Rs 9.8 lakh crore), the finance ministry said in a statement here.

Refunds amounting to Rs 1.22 lakh crore have been issued from April 1, 2017 to January 15, 2018, the ministry said.

Gross collections (before adjusting for refunds) have increased by 13.5% to Rs. 8.11 lakh crore during the period April, 2017 to January 15, 2018. 

"There has been consistent and significant improvement in the position of Direct Tax collections during the current fiscal across all parameters," it added.

The growth rate of total Gross Direct Tax collections has improved from 10% in Q1, to 10.3% in Q2, to 12.6% in Q3 and to 13.5% as on January 15, 2018. 

It said that similarly, the growth rate of total Net Direct Tax collections has climbed up from 14.8% in Q1, to 15.8% in Q2, to 18.2% in Q3 and to 18.7% as on January 15, 2018.

"The growth has been particularly good in the collections under Corporate Income Tax (CIT). Gross CIT collections, which were growing at the rate of 4.8% in Q1, attained a growth rate of 5.1% in Q2, 10.1% in Q3 and 11.4% as on January 15, 2018. Similarly, the growth rate of net CIT collections increased from 10.8% in Q2, to 17.4% in Q3 and to 18.2% as on January 15, 2018," the statement added.

Print Rate this article:
No rating

Number of views (229)/Comments (0)

rajyashree guha

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free