Direct tax collections up 12.5% at Rs2,38,325 crore
19 Sep 2013
Net direct tax collections of the central government so far during the 2013-14 financial year (up to 17 September 2013) showed a growth of 12.5 per cent year-on-year and stood at Rs2,38,325 crore, against Rs2,11,641 crore in the same period last year.
Corporate tax collections increased by 7.97 per cent to Rs1,46,610 crore against Rs1,35,791 crore collected to date last year while personal income tax collections grew at a higher pace of 21.08 per cent to Rs89,006 crore, from Rs65,752 crore collected to date last year, official data released on Wednesday showed.
The collection of securities transaction tax (STT) and wealth tax stood at Rs2,210 crore and Rs309 crore, respectively.
Out of the total net collections, contribution by way of advance tax up to the September quarter showed an overall growth of 9.14 per cent at Rs1,14,324 crore.
Advance tax collections from corporates rose 7.97 per cent to Rs1,03,374 crore year-on-year against a the growth rate of 4.5 per cent during the same period last year. Advance Tax collections under personal income tax rose 24 per cent year-on-year to Rs10,946 crore.
Top five advance tax payers included ONGC, SBI, Reliance Industries Ltd, Life Insurance Corporation and HDFC Bank, the release added.
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