Direct Tax Collections up to August, 2016 show an Increase of 15.03%

Deepak Gupta | Sep 28, 2016 |

Direct Tax Collections up to August, 2016 show an Increase of 15.03%

Direct Tax Collections up to August, 2016 show an Increase of 15.03%
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
New Delhi, 12th September, 2016.
Sub: Direct Tax Collections up to August, 2016 show an Increase of 15.03%The figures for direct tax collections up to August, 2016 show that net revenuecollections are at Rs. 1.89 lakh crore which is 15.03% more than the net collectionsfor the corresponding period last year. Till August 2016, 22.30% of the BudgetEstimates of direct taxes for Financial Year 2016-17 has been achieved.
As regards the growth rates for Corporate Income Tax (CIT) and PersonalIncome Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is11.55% while that under PIT (including STT etc.) is 24.06%. However, afteradjusting for refunds, the net growth in CIT collections is (-)1.89% while that in PITcollections is 31.76%. Refunds amounting to Rs. 77,080 crore have been issuedduring April-August, 2016, which is 22.18% higher than the refunds issued duringthe corresponding period last year.
(Meenakshi J Goswami)
Commissioner of Income Tax
(Media and Technical Policy)
Official Spokesperson, CBDT.
 
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