Direct tax collections during the six months ended September grew about 9 per cent to Rs3.27 lakh crore, buoyed mainly by personal income tax mop-up. The April-September direct tax collection, which includes corporate and personal income tax, shows that 38.65 per cent of the Budget Estimate of direct taxes for 2016-17 has been achieved. The figures show that net collections are at Rs3.27 lakh crore, 8.95 per cent more than the net amount in the same period last year, a CBDT statement said.
The gross collection of corporate income tax (CIT) grew at 9.54 per cent while it is 16.85 per cent under personal income tax (PIT). However, after adjusting for refunds, the net growth in CIT collection is 2.56 per cent while that of PIT is 18.60 per cent. Refunds amounting to Rs86,491 crore have been issued in April-September 2016, up 26.99 per cent from a year earlier. Till September 2016, advance tax collections have reached Rs1.58 lakh crore, showing a growth of 12.12 per cent.