Direct tax collection up over 13% at Rs1,57,169 crore in April-July FY’14

Gross direct tax collection of the central government during the first four months (April-July) of the financial year 2013-14 has gone up by 13.27 per cent to Rs1,57,169 crore, compared with Rs1,38,751 crore collected in April-July 2012-13.

Collection of corporate taxes has shown an increase of 9.75 per cent at Rs92,115 crore during April-July 2013-14 against Rs83,932 crore collected in the same period last year.

Gross collection of personal income tax has gone up by 19.32 per cent to Rs63,583 crore, from Rs53,289 crore in the similar period of the previous financial year.

Net direct tax collection has gone up by 10.37 per cent to Rs1,16,645 crore, from Rs1,05,684 crore in the same period last fiscal.

Gross collection of securities transaction tax (STT) stood at Rs1,267 crore during April-July 2013-14, while wealth tax collection showed exceptional 38.62 per cent growth at Rs201 crore against Rs145 crore during April-July 2012-13.

The government has fixed a direct tax collection target of over Rs6,68,000 crore for the current fiscal, a growth of 19 per cent from Rs5,65,000 crore in the previous fiscal.