Direct tax collections up 13.7% in April-December FY'14

Net direct tax collections of the central government so far during the current fiscal (up to 20 December 2013) stood at Rs4,12,918 crore, showing a growth of 13.7 per cent from the Rs3,63,338 crore collected in the same period of the previous financial year.

Advance tax collections up to the December quarter has shown an overall growth of 8.8 per cent year-on-year, at Rs2,02,626 crore, during the nine-month period.

Corporate tax collections during April-December 2013-14 stood at Rs2,60,752 crore, showing a growth of 10.2 per cent from Rs2,36,580 crore collected during the same period last fiscal.

Personal income tax collections during April-December 2013-14 stood at Rs1,47,987 crore as against Rs1,22,818 crore collected during the same period last fiscal, a growth of 20.5 per cent year-on-year.

Collection of securities transaction tax (STT) and wealth tax during April-December 2013-14 stood at Rs3,427 crore and Rs752 crore, respectively.

Out of the net tax collections, contribution by way of advance tax up to the December quarter has been Rs2,02,626 crore, an overall growth of 8.8 per cent.

Advance tax collections from corporates showed an 8.4 per cent growth at Rs1,76,935 crore over the previous year's collections. This compares with a growth of 7.0 per cent during the same period last year.

Advance collection of personal income tax during April-December 2013-14 stood at Rs25,686 crore, showing a rise of 11.9 per cent.