The government has collected Rs 4.39 lakh crore in direct taxes, up 15.2% yearon-year, during the first seven months of the current fiscal.
The collection, which includes personal income tax and corporate tax, represents 44.8% of the total Budget estimates of Rs 9.8 lakh crore in direct taxes for 2017-18. “The provisional figures of direct tax collections up to October, 2017 show that net collections are at Rs 4.39 lakh crore which is 15.2% higher than the net collections for the corresponding period of last year,“ a finance ministry statement said.
Gross collections (before adjusting for refunds) have increased 10.7% to Rs 5.28 lakh crore during April-October. Refunds amounting to Rs 89,507 crore were issued during the seven-month period.