Skip to main content

April-August income tax revenue up 17.5% at Rs 2.24 lakh crore

 


April-August income tax revenue up 17.5% at Rs 2.24 lakh crore

12 Sep. 10:36

New Delhi: The Indian Income Tax Department's collections in the first five months of the current fiscal at Rs 2.24 lakh crore grew 17.5 per cent over the same period last year, an official said on Monday.

A Central Board of Direct Taxes (CBDT) statement here said the collections for the period April-August amount to 22.9 per cent of the total budget estimates of direct taxes for the current financial year.

"The direct tax collections up to August 2017 continue to register steady growth. Direct tax collection, net of refunds, stands at Rs 2.24 lakh crore which is 17.5 per cent higher than the net collections for the corresponding period of last year," it said.

In terms of gross revenue collections, personal income tax collections (PIT) rose 16 per cent, while corporate income tax (CIT) grew 5 per cent.

"However, after adjusting for refunds, the net growth in CIT collections is 18.1 per cent while that in PIT collections is 16.5 per cent," it said.

"Refunds amounting to Rs 74,089 crore have been issued during April, 2017 to August, 2017, which are 7.2 per cent lower than the refunds issued during the corresponding period of financial year 2016-17," it added.

The government has targeted collection of Rs 9.80 lakh crore from direct taxes during this fiscal.

Comments

Post a Comment

Popular posts from this blog

Check out the Nokia 2, a budget phone with a monster battery

Android Authority Check out the Nokia 2, a budget phone with a monster battery 19 hours ago HMD Global  is slowly building up its portfolio of stock-Android-running smartphones. In addition to the trio of mid-rangers (Nokia 3, 5, and 6)  it launched at MWC , the company bolstered its high-end with the  Nokia 8 , and now the other side of spectrum is getting some attention. Just  leaked by Evan Blass , the Nokia 2 looks… well, like a generic cheap phone. If you have a visceral hate of bezels, you’ll probably want to close this post and move on, but design is hardly the point here. Blass didn’t share any details about the Nokia 2, but we can make some educated guesses based on some other clues we’ve got about the phone. First, you might have noticed that the phones in the leaked renders show October 5 as the date. Dates in renders are often set to match the launch time, but this could be an old render and there’s still time for things to change. Read more Han...
Post a Comment
Read more

How safe are our kids in schools?

TOI How safe are our kids in schools? 7 hours ago by Praveen Lenka   Whatsapp Facebook Google Plus Twitter Email Linkedin SMS SHARE HIGHLIGHTS Parents’ Suggestions Feedback from parents should be taken in the right stride by school authorities. PTA should have more authority and a right to put their points across in all school matters, especially when it comes to the safety of their children. No child, especially small kids, should be allowed to go alone to the washroom. There should be zero tolerance for non-compliance with child safety guidelines. Official authorities should conduct regular checks in schools to ensure that they have implemented safety measures. Schools should take the help of professional counsellors/psychologists to interview potential recruits. Over the past two days, twin incidents of students getting assaulted in their school premises have been reported from the National Capital. Close on...
Post a Comment
Read more

THE LOST WORLD ( CHAPTER 12)

CHAPTER XII "It was Dreadful in the Forest" I have said—or perhaps I have not said, for my memory plays me sad tricks these days—that I glowed with pride when three such men as my comrades thanked me for having saved, or at least greatly helped, the situation. As the youngster of the party, not merely in years, but in experience, character, knowledge, and all that goes to make a man, I had been overshadowed from the first. And now I was coming into my own. I warmed at the thought. Alas! for the pride which goes before a fall! That little glow of self-satisfaction, that added measure of self-confidence, were to lead me on that very night to the most dreadful experience of my life, ending with a shock which turns my heart sick when I think of it. It came about in this way. I had been unduly excited by the adventure of the tree, and sleep seemed to be impossible. Summerlee was on guard, sitting hunched over our small fire, a quaint, angular figure, his rifle across his knee...
Post a Comment
Read more