Net direct tax collections grew 8.95 per cent in the first half of the fiscal, amounting to ₹ 3.27 lakh crore.
“Till September, 2016, 38.65 per cent of the Budget Estimates of direct taxes for 2016-17 has been achieved,” the Central Board of Direct Taxes (CBDT) said on Thursday.
While net collections from personal income tax grew 18.6 per cent, the growth in corporate tax collections was only marginal with a net mop-up of 2.56 per cent.
Advance tax collections reached ₹ 1.58 lakh crore showing a growth rate of 12.12 per cent. The growth in corporate advance tax was 8.14 per cent against 44.5 per cent in personal advance tax collections.
Refunds amounting to₹ 86,491 crore have been issued during April-September, 2016, which is 26.99 per cent higher than the refunds issued during the corresponding period last year, said the CBDT.