Gross direct tax collections stood at Rs 8.74 lakh crore from April to December 2018.Direct tax collections during first nine months of current financial year rose more than 14 per cent compared to corresponding period last year.
Gross direct tax collections stood at Rs 8.74 lakh crore from April to December 2018, up 14.1 per cent year-on-year, government said on Monday citing provisional data.
The amount of refunds issued during nine-month period rose 17 per cent to Rs 1.30 lakh crore, Ministry of Finance said in its statement.Net collections (after adjusting for refunds) increased 13.6 per cent to Rs.
7.43 lakh crore during April-December 2018, government further said.Net direct tax collections represent 64.7 per cent of total Budget Estimates of direct taxes of Rs 11.50 lakh crore for financial year 2018-19, it noted.Advance tax worth Rs 3.64 lakh crore was collected during this period, marking an increase of 14.5 per cent over corresponding period a year ago.Corporate advance tax registered a growth of 12.5 per cent while personal income tax (PIT) advance tax grew 23.8 per cent.