Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, 17th January, 2018

PRESS RELEASE

Direct Tax Collections for F.Y. 2017-2018 show Growth of 18.7% up to 15th January, 2018

The provisional figures of Direct Tax collections up to 15th January, 2018 show that net collections are at ₹ 6.89 lakh crore which is 18.7% higher than the net collections for the corresponding period of last year. The net Direct Tax collections represent 70.3% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 13.5% to ₹ 8.11 lakh crore during April, 2017 to 15th January, 2018. Refunds amounting to Rs.1.22 lakh crore have been issued during April, 2017 to 15th January, 2018.

There has been consistent and significant improvement in the position of Direct Tax collections during the current fiscal across all parameters. The growth rate of Total Gross DT Collections has improved from 10.0% in Q1, to 10.3% in Q2, to 12.6% in Q3 and to 13.5% as on 15th January, 2018. Similarly, the growth rate of Total Net DT Collections has climbed up from 14.8% in Q1, to 15.8% in Q2, to 18.2% in Q3 and to 18.7% as on 15th January, 2018.

The growth has been particularly good in the collections under Corporate Income Tax (CIT). Gross CIT Collections, which were growing at the rate of 4.8% in Q1, attained a growth rate of 5.1% in Q2, 10.1% in Q3 and 11.4% as on 15th January, 2018. Similarly, the growth rate of Net CIT Collections increased from 10.8% in Q2, to 17.4% in Q3 and to 18.2% as on 15th January, 2018.

(Surabhi Ahluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT.

Direct tax collections growth rises year-to-date with stronger corporate income tax performance and higher refunds issued. Provisional figures show an overall increase in Direct Tax collections to 15 January 2018, with higher net and gross receipts year-on-year, a material share of the annual Budget Estimate, issued refunds during the period, and quarter-on-quarter acceleration in growth; Corporate Income Tax collections exhibited stepped increases in both gross and net figures across successive quarters.