Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 11th September, 2017.
PRESS RELEASE
Direct Tax Collections up to August, 2017 show Growth of 17.5%
The Direct Tax collections up to August, 2017 continue to register steady growth. Direct Tax collection, net of refunds, stands at Rs. 2.24 lakh crore which is 17.5% higher than the net collections for the corresponding period of last year. This collection is 22.9% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18.
So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 5.0% while that for PIT (including STT) is 16.0%. However, after adjusting for refunds, the net growth in CIT collections is 18.1% while that in PIT collections is 16.5%. Refunds amounting to Rs. 74,089 crore have been issued during April, 2017 to August, 2017 which are 7.2% lower than the refunds issued during the corresponding period of Financial Year 2016-17.