Direct tax collections till September at Rs 5.47 lakh cr

New Delhi (IANS) Increasing by 16.7 per cent over last year, the gross direct tax collections for the first half of the current fiscal stood at Rs 5.47 lakh crore, according to provisional figures released by the government.

It added that the gross collections of the corresponding period last year also included collections under the Income Declaration Scheme amounting to Rs 10,254 crore, which did not form part of the current year’s collection.

“Refunds amounting to Rs 1.03 lakh crore have been issued during April to September, which is 30.4 per cent higher than refunds issued during the same period in the preceding year,” an official statement said.

It said the net collection, after adjusting for refunds, increased by 14 per cent to Rs 4.44 lakh crore.

“The net direct tax collections represent 38.6 per cent of the total Budget Estimates of Direct Taxes for FY19,” it added.

Leave a Reply

Your email address will not be published.