fbpx

Back to News

Direct Tax Touches Rs.6.5 Lakh cr During Apr-Dec

January 12, 2018

The direct tax collection by the centre during the April-December period stood at Rs. 6.56 lakh crores, up 18.2% especially because of the huge amount of advance taxes. These make for 67% of the total budget estimate of Rs. 9.8 lakh crores. In addition to that, the government has issued refunds of Rs. 1.12 lakh crores to the taxpayers during the first three quarters of the current fiscal.

The advance taxes collected by the government stood at Rs. 3.18 lakh crores up to December, FY18, thus indicating a growth of 12.7% on year-over-year basis.

Direct taxes are the taxes paid by individuals and businesses, although wealth tax is another tax that is considered a direct tax.

Tags:
Finance

Recommended for you ...

Farmers End Protest in Delhi After Midnight March
Farmers End Protest in Delhi After Midnight March

October 22, 2018

DoT Seeks to Finalize Ombudsman System Under TRAI
DoT Seeks to Finalize Ombudsman System Under TRAI

October 22, 2018

India Looks to Generate 40% of Power from Renewable Resources by 2030
India Looks to Generate 40% of Power from Renewable Resources by 2030

October 22, 2018

Get the latest update on programs, courses, news and events