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Direct Tax Collections for F.Y. 2017-2018 show Growth of 19.5% up to February, 2018

Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 08th March, 2018
PRESS RELEASE

 

 

Direct Tax Collections for F.Y. 2017-2018 show Growth of 19.5% up to February, 2018

 

 

The provisional figures of Direct Tax collections up to February, 2018 show that net collections are at Rs.7.44 lakh crore which is 19.5% higher than the net collections for the corresponding period of last year. The net Direct Tax collections represent 74.3% of the Revised Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 10.05 lakh crore). Gross collections (before adjusting for refunds) have increased by 14.5% to Rs.8.83 lakh crore during April 2017 to February 2018. Refunds amounting to Rs.1.39 lakh crore have been issued during April 2017 to February 2018.

The growth rate for net collections for Corporate Income Tax (CIT) is 19.7% and for Personal Income Tax (PIT) is 18.6%.