CBDT reveals growth in personal income tax, PIT, advance tax is 30.1 per cent.
Mumbai: The Central Board of Direct Taxes, CBDT, on Wednesday released the data on total net direct tax collections till September. This assumes significance as the numbers are coming in after the rollout of the GST, the new indirect tax regime.
According to CBDT, net direct tax collections up to September 2017 are Rs 3.86 lakh crore which is 15.8 per cent higher than net collections for corresponding period of last year.
The growth in corporate income tax, CIT, advance tax is 8.1 per cent and that in personal income tax, PIT, advance tax is 30.1 per cent, the top most direct taxes body revealed.
CBDT further says Rs 1.77 lakh crore was received as advance tax up to Septemebr 30, 2017 reflecting a growth of 11.5 per cent over advance tax payments during same period last year.
Besides, net direct tax collections represent 39.4 per cent of total budget estimates of Rs 9.8 lakh crore for the direct taxes for the fiscal year 2017-18, the statistics made public on Wednesday said.