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 Notification No.01/2020 Central Board Of Indirect Taxes And Customs

The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
October, 18th 2016
                           Government of India
                              Ministry of Finance
                           Department of Revenue
                         Central Board of Direct Taxes

                                                  New Delhi, 9th October, 2016.


                               PRESS RELEASE

     Sub: Direct Tax Collections up to September, 2016 up by 8.95%


      The figures for direct tax collections up to September, 2016 show that net
collections are at Rs.3.27 lakh crore which is 8.95% more than the net
collections for the corresponding period last year. Till September, 2016, 38.65%
of the Budget Estimates of direct taxes for FY 2016-17 has been achieved.






      As regards the growth rates for Corporate Income Tax (CIT) and Personal
Income Tax (PIT), in terms of gross revenue collections, the growth rate under
CIT is 9.54% while that under PIT (including STT etc.) is 16.85%. However, after
adjusting for refunds, the net growth in CIT collections is 2.56% while that in PIT
collections is 18.60%. Refunds amounting to Rs.86,491 crore have been issued
during April-September, 2016, which is 26.99% higher than the refunds issued
during the corresponding period last year.






       Till September, 2016, advance tax collections have reached Rs.1.58 lakh
crore showing a growth rate of 12.12%. The growth in Corporate advance tax is
8.14% as against 44.5% in Personal advance tax collections. The high growth
rate in PIT advance tax is also due to the fact that as against 30% of annual
advance tax which was payable till September instalment in earlier years, from
this financial year, 45% of the annual advance tax liability is to be paid by
September.

                                                 (Meenakshi J Goswami)
                                               Commissioner of Income Tax
                                               (Media and Technical Policy)
                                               Official Spokesperson, CBDT

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