Direct Tax collected for FY 2017-18 up by 14.4%

Direct Tax collected for FY 2017-18 up by 14.4%

New Delhi [India]: The provisional figures of direct tax collections up to November this year show the net collections are 14.4 per cent higher than those for the corresponding period of last year.

In a statement released by the Central Board of Direct Taxes (CBDT) on Saturday, the provisional figures of direct tax collected for the aforementioned time period are at Rs. 4.8 lakh crore.

The Net Direct Tax collections represent 49 per cent of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 10.7 per cent to Rs 5.82 lakh crore during April-November, 2017.

The CBDT also noted that refunds amounting to Rs 1.02 lakh crore have been issued from April to November, 2017. (ANI)