Economy

Direct tax collections rise 14.4% between April–November

Surabhi New Delhi | Updated on January 09, 2018 Published on December 09, 2017

Net direct tax collections increased by 14.4 per cent to Rs 4.8 lakh crore between April and November this year.

But, amounting to just 49 per cent of the Budgetted target of Rs 9.8 lakh crore for 2017-18, the muted collections are likely to put more pressure on the exchequer as it tries to keep the fiscal deficit in control at the targeted 3.2 per cent.

According to data released by the Central Board of Direct Taxes (CBDT) on Saturday, gross collections (before adjusting for refunds) increased by 10.7 per cent to Rs 5.82 lakh crore between April and November this year.

Refunds amounting to Rs 1.02 lakh crore have also been issued during April, 2017 to November, 2017.

Concerned by the muted collections, CBDT Chairman Sushil Chandra is also understood to have directed officials in various States to boost payments ahead of the December 15 deadline for advance tax.

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Published on December 09, 2017
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