Direct Tax collections rise 14% to Rs 4.8 lakh cr during April-November
New Delhi: The government on Saturday reported a growth of 14.4 per cent in direct tax collections for April-November, 2017-18.
“Provisional figures of direct tax collections up to November 2017 show that net collections are at Rs 4.8 lakh crore which is 14.4 per cent higher than the net collections for corresponding period of last year,” the Central Board of Direct Taxes (CBDT) said in a series of tweets.
“Net direct tax collections represent 49 per cent of total budget estimates of direct taxes for FY 2017-18 (Rs 9.8 lakh crore).”
According to the CBDT, gross collections have increased by 10.7 per cent to Rs 5.82 lakh crore during April-November, 2017. Refunds amounting to Rs 1.02 lakh crore have been issued during April-November, 2017.