CBDT issues refunds worth over Rs one lakh crore by Nov-end
By TIOL News Service
NEW DELHI, DEC 10, 2017: THE direct tax collections are sluggish so far and it seems to be worrying the CBDT Chairman who appears to be keen for yet another round of extension to his service. As per the latest data, the CBDT has issued refunds of over Rs one lakh crore.
Latest data reveals that net collections are at Rs. 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year.
The Net Direct Tax collections represent 49% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 10.7% to Rs.5.82 lakh crore during April-November, 2017.
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