Press Information Bureau

Government of India

Ministry of Finance

06-July-2017 19:14 IST

The provisional figures for Direct Tax collections up to June, 2017 show that net collections are at ₹ 1.42 lakh crore which is 14.8% higher than the net collections for the corresponding period of last year. Net direct tax collections represent 14.5% of the total Budget Estimates of direct taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore). 

While the gross collection under Corporate Income Tax (CIT) grew at 4.8%, the growth under Personal Income Tax (PIT) including Securities Transaction Tax (STT) is 12.9%. However, after adjusting for refunds, the net growth in CIT collections is 22.4% while that in PIT is 8.5%. Refunds amounting to Rs.55,520 crore have been issued during April to June, 2017, which is 5.2% lower than the refunds issued during corresponding period of F.Y. 2016-17.

An amount of ₹ 58,783 crore has been received as Advance Tax up to 30th June, 2017 reflecting a growth of 11.9% over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Advance Tax is at 8.1% and that in Personal Advance Tax is at 40.3%. 

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DSM/SBS/KA

Direct tax collections growth reported for the first quarter, increasing the share of budgeted estimates and advance tax receipts. Provisional net direct tax collections for April-June 2017 increased versus the prior year and constitute a material share of the fiscal year's budgeted direct tax estimate. Gross CIT and PIT growth diverged, but after refunds net CIT growth outpaced its gross rate while net PIT growth was lower; refunds in the quarter were lower than in the corresponding prior-year period. Advance tax receipts rose overall, with moderate growth in corporate advance tax and substantially higher growth in personal advance tax.