Direct tax collections see a 16 % surge in April-September

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Thanks to a healthy growth in advance tax collections, India's direct tax collections for April-September rose 15.8 percent to Rs 3.86 lakh crore.

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The net direct tax collections constitute 39.4 percent of the total budget estimate of direct taxes at Rs 9.8 lakh crore for the current fiscal, a PTI report said.

The provisional figures of direct tax up to September 2017 show that net collections stood at Rs 3.86 lakh crore which is 15.8 percent higher than the corresponding period last year, the finance ministry said in a statement.

Advance tax collections till September stood at Rs 1.77 lakh crore, reflecting a growth of 11.5 percent over the corresponding period a year ago.

The growth in Corporate Income Tax (CIT) Advance Tax is 8.1 percent and that in Personal Income Tax (PIT) Advance Tax is 30.1 percent.

OneIndia News with PTI inputs

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