Direct tax collection up 11.38% in April-January FY'15

Gross direct tax collection of the government increased 11.38 per cent year-on-year during the first 10 months of the current financial year (April-January 2014-15) to Rs5,78,715 crore, against Rs5,19,588 crore during the same period of the previous financial year.

Corporate tax collection has shown an increase of 11.04 per cent at Rs3, 64,665 crore, compared to Rs3,28,413 crore collected during the same period last year.

Gross collection of personal income tax was up 11.32 per cent at Rs2, 07,613 crore against Rs1, 86,502 crore collected during the same period last year.

Securities transaction tax (STT) collection grew at an impressive 44.12 per cent to Rs5,556 crore. Net direct tax collections are up 6.21 per cent at Rs4,74,488 crore, compared to Rs4,46,756 crore in the same period last fiscal.

Advance tax collection has shown a growth of 13.26 per cent during April-January of FY'15 against the growth of 8.71 per cent shown during the same period of the previous year.

Tax deduction at source (TDS) grew 7.79 per cent against 16.65 per cent in the same period last year.

Self-assessment tax showed a growth of 22.22 per cent against 10.94 per cent in the same period last year.

Regular tax collection grew at a slower pace of 17.25 per cent during April-January 2014-15 compared to the 24.14 per cent growth recorded in the same period last fiscal.