Centre sees upswing in April-May direct tax collections
08 Jun 2013
Central direct tax collections this fiscal year seem to be surpassing government expectations, with the gross collection during April-May showing a growth of more than 21 per cent over the previous year.
The gross collection was at Rs63,252 crore as against Rs 52,231 crore in the corresponding period last year.
The collections from corporate taxes stood at Rs27,957 crore as against Rs 24,329 crore in the same period during last year, an increase of 15 per cent.
Personal tax collection was up by 27 per cent, at Rs34,805 crore against Rs27,343 crore in the same period last year.
However, the net direct tax collections were up by only 6 per cent at Rs37,596 crore as compared to Rs35,322 crore of the last fiscal.
The growth in net collections of wealth tax was 87 per cent at Rs28 crore as against Rs 15 crore in the same period last year, while growth in Securities Transaction Tax (STT) was negative at (-) 15 per cent.
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