Net Direct Tax Collection Rises 16% To Rs 9.95 Lakh Crore By Sept. 17
The net personal income tax collection grew 19% to Rs 5.15 lakh crore between April 1 and Sept. 17. Corporate tax collection went up 10.55% to over Rs 4.52 lakh crore.
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Various denominations of Indian rupee arranged for photograph. (Source: Vijay Sartape/NDTV Profit)
Net direct tax collection grew 16.12% to over Rs 9.95 lakh crore so far this fiscal on higher advance tax mop up. Refunds worth over Rs 2.05 lakh crore were issued, a 56.49% jump over the same period last fiscal.
The net personal income tax collection grew 19% to Rs 5.15 lakh crore between April 1 and Sept. 17. Corporate tax collection went up 10.55% to over Rs 4.52 lakh crore.
Revenues from Securities Transaction Tax stood at Rs 26,154 crore.
After taking into account refunds, net collection from PIT and corporate taxes stood at Rs 9,95,766 crore so far this fiscal, a growth of 16.12% over the year-ago period.
Advance tax collection grew 22.61% to Rs 4.36 lakh crore. The growth in PIT advance tax mop up was 39.22% while for corporate tax, it was 18.17%.
Gross direct tax collection stood at Rs 12.01 lakh crore, a growth of 21.48% so far this fiscal.
The government has budgeted to collect Rs 22.12 lakh crore in the current fiscal from direct taxes (personal income tax, corporate tax and other taxes), up 13% over the previous fiscal.
