Forum
Read and express views
× Latest Press Notes

These are the latest press releases.

PRESS RELEASE, DATED: 07-01-2019

  • amit
  • amit's Avatar Topic Author
  • Offline
  • Administrator
  • Administrator
More
2 months 2 weeks ago #8543 by amit
PRESS RELEASE, DATED: 07-01-2019 was created by amit
PRESS RELEASE, DATED: 07-01-2019

January 07, 2019

Direct Tax Collections for F.Y. 2018-19 up to December, 2018

The provisional figures of Direct Tax collections up to December, 2018 show that gross collections are at Rs. 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 during April, 2018 to December, 2018, which is 17.0% higher than refunds ssued during the same period in the preceding year. Net collections (after adjusting for refunds) have increased by 13.6% to Rs. 7.43 lakh crore during April - December, 2018. The net
Direct Tax collections represent 64.7% of the total Budge Estimates of Direct Taxes for F.Y. 2018-19 (Rs. 11.50 lakh crore).

So far as the growth 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 extraordinary collections under the Income Declaration Scheme (IDS), 2016 amounting to Rs.10,844 c ore (Third and last instalment of IDS), which do not form part of the current year’s collections.

An amount of Rs. 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 Corporate Advance Tax is 12.5% and that of PIT Advance Tax is 23.8%.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT.



Please Log in or Create an account to join the conversation.

Time to create page: 0.077 seconds

If You Appreciate What We Do Here On TaxPundit, You Should Consider:

We are thankful for your never ending support.

Latest Analysis - High Courts

PCIT vs. OM PRAKASH JAKHOTIA & ANR.

PCIT vs. OM PRAKASH JAKHOTIA & ANR.

PCIT vs. OM PRAKASH JAKHOTIA & ANR. Read More
Kingfisher Capital CLO Ltd. vs. CIT

Kingfisher Capital CLO Ltd. vs. CIT

Kingfisher Capital CLO Ltd. vs. CIT Read More
Plymex Timber Pvt. Ltd. & Anr vs ITO

Plymex Timber Pvt. Ltd. & Anr vs ITO

Plymex Timber Pvt. Ltd. & Anr vs ITO Read More
NATIONAL PROJECTS CONSTRUCTION CORPORATION LIMITED (NPCC) vs. DCIT

NATIONAL PROJECTS CONSTRUCTION CORPORATION LIMITED (NPCC) vs. DCIT

NATIONAL PROJECTS CONSTRUCTION CORPORATION LIMITED (NPCC) vs. DCIT Read More
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34

Forum Features

Latest Case Laws
Latest Case Laws are instantly updated in the Forum into their respective section
Latest from CBDT
Latest Circulars, Notifications, Orders etc. from CBDT is updated in the Forum
Ask Experts
You can ask questions to the community
Support
Support queries are either replied via mail or in the Forum so that others can be benefited
Press Releases
Latest Press Notes and Press Releases are updated in the Forum
Connect with Members
You can connect with our community members by replying to their queries

Recommended Articles

 

SITE INFORMATION

All content herein is the copyright of Taxpundit. No images, text, or any other content may be, reproduced or redistributed without the express written consent of Taxpundit.

All Rights Reserved. All Content Copyright.

Newsletter

Subscribe to our newsletter and stay updated on the latest developments and special offers!

Create your own website as per ICAI guidelines. Plan starts at Rs. 15000/- with Free Premium Membership. Read more
Toggle Bar