TaxTMI 
TaxTMI 
Direct Tax Collections for F.Y. 2018-19 up to December, 2018
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....irect Tax Collections for F.Y. 2018-19 up to December, 2018 <br>News and Press Release<br>Dated:- 7-1-2019<br><BR>The provisional figures of Direct Tax collections up to December, 2018 show that gross collections are at ₹ 8.74 lakh crore which is 14.1% higher than the gross collections for the corresponding period of last year. Refunds amounting to Rs.1.30 lakh crore have been issued durin....
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....g April, 2018 to December, 2018, which is 17.0% higher than refunds issued during the same period in the preceding year. Net collections (after adjusting for refunds) have increased by 13.6% to ₹ 7.43 lakh crore during April - December, 2018. The net Direct Tax collections represent 64.7% of the total Budget Estimates of Direct Taxes for F.Y. 2018-19 (Rs. 11.50 lakh crore). So far as the g....
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....rowth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) is concerned, the growth rate of gross collections for CIT is 14.8% while that for PIT (including STT) is 17.2%. After adjustment of refunds, the net growth in CIT collections is 16.0% and that in PIT collections is 14.8%. It is pertinent to mention that collections of the corresponding period of F.Y. 2017-18 also included ext....
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....raordinary collections under the Income Declaration Scheme (IDS), 2016 amounting to ₹ 10,844 crore (Third and last instalment of IDS), which do not form part of the current year's collections. An amount of ₹ 3.64 lakh crore has been collected as Advance Tax, which is 14.5% higher than the Advance Tax collections during the corresponding period of last year. The growth rate of Corpora....
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....te Advance Tax is 12.5% and that of PIT Advance Tax is 23.8%.<BR> News - Press release - PIB....