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Direct tax mop up rises 14.1 per cent to Rs 8.74 lakh crore in April-December 2018

Direct tax mop up rises 14.1 per cent to Rs 8.74 lakh crore in April-December 2018

Finance
Direct tax mop up grew 14.1 per cent to Rs 8.74 lakh crore during April-December 2018, Finance Ministry said Monday. Refunds amounting to Rs 1.30 lakh crore have been issued during April to December, 2018, which is 17 per cent higher than refunds issued during the same period in the preceding year. As much as Rs 3.64 lakh crore has been collected as advance tax, which is 14.5 per cent higher than the advance tax collections during the same period last year. "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 per cent higher than the gross collections for the corresponding period of last year," a finance ministry statement said. Net collections (after adjusting for refunds) have increased by 13.6 per ...