Business

Direct tax collections rise 14 per cent to Rs 4.8 lakh crore in Apr-Nov

Direct tax collections rise 14 per cent to Rs 4.8 lakh crore in Apr-Nov

New Delhi: Direct tax collections increased by 14.4 per cent to Rs 4.8 lakh crore during April-November this fiscal.

“The 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 the corresponding period of last year,” Central Board of Direct Taxes said in statement.

According to the statement, the net direct tax collections represent 49 per cent of the total Budget Estimates of direct taxes for 2017-18 (Rs 9.8 lakh crore).

The gross collections (before adjusting for refunds) 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, it added.

PTI