Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, 09 December, 2016.

PRESS RELEASE

Sub: Direct Tax Collections for November, 2016 show Growth of 15.12 %

The figures for Direct Tax collections up to November, 2016 show that net collections are at ₹ 4.12 lakh crore which is 15.12% more than the net collections for the corresponding period last year. This collection is 48.67% of the total Budget Estimates of Direct Taxes for F.Y. 2016-17.

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 11.22% while that under PIT (including STT) is 22.41%. However, after adjusting for refunds, the net growth in CIT collections is 8.75% while that in PIT collections is 23.89%. Refunds amounting to Rs.1,05,561 crore have been issued during April-November, 2016, which is 17.35% higher than the refunds issued during the corresponding period last year.

(Meenakshi J.Goswami)

Commissioner of Income Tax

(Media and Technical Policy)

Official Spokesperson, CBDT.

Direct tax collection growth reflects stronger revenue mobilisation with higher net receipts despite increased refunds issued. Net direct tax collections up to November totalled Rs. 4.12 lakh crore, up 15.12% year on year and equal to 48.67% of the fiscal budget estimate. Gross CIT rose 11.22% and gross PIT (including STT) rose 22.41%; after refunds, net CIT grew 8.75% and net PIT 23.89%. Refunds of Rs. 1,05,561 crore were issued April-November, 17.35% higher than the prior-year period.