Home » News » Banking & Finance » Direct Tax collections for F.Y. 2017-2018 show growth of 19.5% up to february, 2018 

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

​the Financial Year 2017-18 which stand at 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 N​et collections for Corporate Income Tax (CIT) is 19.7% and for Personal Income Tax (PIT) is 18.6%.

About Indianindustry Media

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Government announces inclusion of Retail and Wholesale trades as MSMEs

Minister of MSME and Road Transport and Highways Shri Nitin Gadkari today announced revised guidelines ...

AJNIFM partners with Microsoft to build an AI and Emerging Technologies Centre of Excellence

 The Arun Jaitley National Institute of Financial Management (AJNIFM) and Microsoft signed a Memorandum of ...

Exchange Rate Notification No.57/2021 – Customs (N.T.)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 ...

NALCO’s Net Profit at Rs.1300 crore, jumps by 840%

National Aluminium Company Limited (NALCO), the NavratnaCPSE, under the Ministry of Mines, GOI and India’s ...

Quick Estimates of Index of Industrial Production and Use-Based Index for the month of April, 2021 (Base 2011-12=100)

The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month ...

NHPC’s earns highest ever profit of Rs 3233 Crore during FY 2020-21

NHPC Limited, India’s premier hydropower company and a ‘Mini Ratna’ Category-I Enterprise under Ministry of ...

Fraud in the Name of “Khadi Prakritik Paint”; Delhi High Court Bars a Unit from Using Brand Name ‘Khadi’

Delhi High Court has directed a Ghaziabad-based trader, who indulged in fraudulent manufacturing and selling ...

IREDA invites bids for Rs. 4500 crore Solar PLI scheme

Indian Renewable Energy Development Agency Ltd. (IREDA), a PSU under the Ministry of New & ...

Revenue Deficit Grant of Rs. 9, 871 crore released to 17 States

The Department of Expenditure, Ministry of Finance on Tuesday released the 3rd monthly installment of Post ...

Shri Dharmendra Pradhan inaugurates the 270 Bedded Oxygenated COVID Care Centre at JSPL, Angul, Odisha

Union Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan today dedicated the ...

WP2Social Auto Publish Powered By : XYZScripts.com