Direct tax collection up by 14.4 per cent: Finance Ministry

New Delhi, Dec 11 (KNN) Citing statistics, the Ministry of Finance informed that the direct tax collection up to the month of November registered a positive trend of 14.4 per cent higher than the collection of the corresponding month of the previous fiscal.

The Ministry of Finance in a tweet from its official twitter handle informed about the latest development.

Citing data, the Ministry said that the net collection so far is 4.8 lakh crore, which is 14.4 per cent higher than the net collections of the previous fiscal’s corresponding month.

The Net Direct Tax collections represent 49 per cent of the total Budget Estimates of Direct Taxes for the Financial Year. 2017-18 (Rs. 9.8 lakh crore), the data said.

This refers to the statement that the country have collected over 49 per cent of the total estimated amount of 9.8 lakh crore so far.

With regard to the Gross collections (before adjusting for refunds) there is an increase of 10.7 per cent to Rs.5.82 lakh crore during April-November, 2017. Refunds amounting to Rs. 1.02 lakh crore have been issued during April, 2017 to November, 2017, the data further said. (With PIB Input) (KNN/DA)