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Direct tax collection up 15.2% in April-October: Finance Ministry

IANS | New Delhi |

Direct tax collection was up by 15.2 per cent to Rs 4.39 lakh crore in the April-October period, the government said on Tuesday.

“The provisional figures for direct tax collections up to October 2017 show that net collections are at Rs 4.39 lakh crore, which is 15.2 per cent higher than the net collections for the corresponding period of last year,” the Finance Ministry said in a statement.

The collection up to October 2017 indicates that 44.8 per cent of the annual budget target of direct taxes (Rs 9.8 lakh crore) had been achieved, it said.

Refunds totalling Rs 89,507 crore had been made during April-October 2017.

“Gross collections (before adjusting for refunds) have increased by 10.7 per cent to Rs 5.28 lakh crore during April-October period,” the statement said.