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Indian Tax Take Buoyed By High Personal Tax Receipts

by Mary Swire, Tax-News.com, Hong Kong

10 January 2018


Indian direct tax collections grew by around 18.2 percent year-on-year but the country might miss full-year targets, India's Ministry of Finance has said.

The Ministry released provisional figures for the period April to December 2017 on January 8, 2018.

According to the ministry, these collections, of INR6.5 trillion (USD101bn), were equal to 67 percent of the budget target for this year.

Gross collections (before adjusting for refunds) increased by 12.6 percent year-on-year. Advance Tax was up 12.7 percent year-on-year, and corporate tax receipts grew by 10.9 percent. Receipts from advance payments of personal income tax were up 21.6 percent.

TAGS: Finance | tax | India | budget | Tax

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