CBDT accomplishes Direct Taxes collection of Rs 10 lakh crore for FY17 CBDT accomplishes Direct Taxes collection of Rs 10 lakh crore for FY17 Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

« Direct Tax »

Income Tax Return (ITR) filing: Avoid these mistakes, else penalty amount is waiting for you
Income Tax Return (ITR) filing: Avoid these mistakes, else penalty amount is waiting for you
Why you shouldnâ€™t miss the ITR deadline for FY18
Here's when and how you should file a revised tax return
GST Council meet: Realtors get two options to tax under construction house
Relief for start-ups with tax notice
CBDT gives 90 startups immunity from Angel Tax
Which form should salaried individual and pensioner file? Find out Income Tax Return (ITR) filing
Net direct tax collection crosses ?10 lakh crore mark
CBDT Widens Tax Dragnet on Notional Income through Section 56(2), but Loopholes Remain
No respite from Angel Tax despite DPIIT notification


« New Income Tax forms: What information is being asked for?...	CBDT proposes norms for tax benefits for genuine equity... »
CBDT accomplishes Direct Taxes collection of Rs 10 lakh crore for FY17

April, 04th 2017
Central Board of Direct Taxes on Tuesday said that the provisional figures for revenue collections up to March, 2017 showed a gross Direct Tax collection of Rs 10.09 lakh crore. According to the notification by company, the net collection after issue of refunds stands at Rs. 8.47 lakh crore which is 14.2 per cent higher than the net collection for the corresponding period last year. With this the CBDT has accomplished 100 per cent of the direct tax target for Financial Year 2016-17. Refunds amounting to Rs. 1.62 lakh crore have been issued during April 2016-March 2017, which is 32.6 per cent higher than the refunds issued during the same period for FY 2015-16. This has substantially reduced the grievances of tax payers. While the gross collection under Corporate Income Tax (CIT) grew at 13.1 per cent during the year, the growth under Personal Income Tax (PIT) including Securities Transaction Tax (STT) is 18.4 per cent. However, after adjusting for refunds, the net growth in CIT is 6.7 per cent while that in PIT is 21.0 per cent.