Direct tax collections up 3.6 per cent at Rs52,232 crore in April-May
13 Jun 2012
Gross direct tax collections in the country during the first two months of the current financial year (April-May 2012-13) increased by 3.62 per cent to Rs52,232 crore against Rs50,407 crore collected in the same period in the 2011-12 fiscal.
Corporate tax collections showed a decline of (-) 2.82 per cent during April-May 2012-13 and stood at Rs24,329 crore, down from Rs25,035 crore in the same period in 2011-12.
Personal income tax collections were up 10.02 per cent at Rs27,884 crore in April-May 2012-13, against Rs25,344 crore in the same period in FY2011-12.
Net direct tax collections, however, showed a significant increase of 172.64 per cent during April-May 2012-13 at Rs35,323 crore, up from Rs12,956 crore in the same period in FY2011-12. This upward surge in net collections was due to a decline in refunds by (-)54.85 per cent as compared to year ago period.
Wealth tax collections declined 16.67 per cent during April-May 2012-13 and stood at Rs15 crore, against Rs18 crore in the same period in FY2011-12.
On the other hand, growth in securities transaction tax (STT) was 7.36 per cent at Rs540 crore during April-May of FY2012-13, against Rs503 crore in the same period in FY2011-12.
