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. To download official notification click here