Press Information Bureau

Government of India

Ministry of Finance

12-September-2016 12:08 IST

The figures for Direct Tax Collections up to August, 2016 show that net revenue collections are at ₹ 1.89 lakh crore which is 15.03% more than the net collections for the corresponding period last year. Till August 2016, 22.30% of the Budget Estimates of direct taxes for Financial Year 2016-17 has been achieved.

As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 11.55% while that under PIT (including STT etc.) is 24.06%. However, after adjusting for refunds, the net growth in CIT collections is (-)1.89% while that in PIT collections is 31.76%. Refunds amounting to ₹ 77,080 crore have been issued during April-August, 2016, which is 22.18% higher than the refunds issued during the corresponding period last year.

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DSM/KA

Direct tax collections show increased growth, with corporate and personal tax trends diverging after adjustment for refunds. Direct tax revenue collections up to August 2016 report net collections of Rs. 1.89 lakh crore, achieving 22.30% of the 2016-17 Budget Estimates; gross Corporate Income Tax and Personal Income Tax grew at different rates, but after accounting for refunds net Corporate Income Tax declined while net Personal Income Tax rose, with refunds during April-August 2016 higher than the same period in the prior year.