Oct 05, 2018
Corporate advance tax growth rate doubles
Direct tax collection net of refunds for the April-September period grew by 14% to Rs 4.44 lakh crore, marginally below the growth rate of 14.4% required to achieve the Budget estimate of Rs 11.50 lakh crore for the current fiscal, the government said on Thursday. The tax department collected Rs 2.10 lakh crore as advance tax, which is 18.7% higher compared with the corresponding period a year ago. This includes corporate advance tax collection growth of 16.4% and advance collection of personal income tax (PIT) growth of 30.3%.