Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, 09th February, 2018

PRESS RELEASE

Direct Tax Collections for F.Y. 2017-2018 show Growth of 19.3% up to January, 2018

The provisional figures of Direct Tax collections up to January, 2018 show that net collections are at Rs.6.95 lakh crore which is 19.3% higher than the net collections for the corresponding period of last year. The net Direct Tax collections represent 69.2% of the Revised Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 10.05 lakh crore). Gross collections (before adjusting for refunds) have increased by 13.3% to Rs.8.21 lakh crore during April 2017 to January 2018. Refunds amounting to Rs.1.26 lakh crore have been issued during April 2017 to January 2018.

The growth rate for net collections for Corporate Income Tax(CIT) is 19.2% and for Personal Income Tax(PIT) is 18.6%.

(Surabhi Ahluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT.

Direct tax collections show marked growth, boosting net receipts and influencing progress toward the fiscal year revenue target. Provisional direct tax receipts through January show net collections materially higher year on year and comprising a significant share of the fiscal year Revised Estimates; the release distinguishes net and gross collections, records refunds issued during the period, and highlights elevated growth in Corporate Income Tax and Personal Income Tax.