Gross direct tax collections during April-May of the current Financial Year 2013-14 is up by 21.10 percent at Rs. 63,252 crore as against Rs. 52,231 crore in the same period during the last fiscal. While Gross Collections of Corporate Taxes showed an increase of 14.91 percent and stood at Rs.27,957 crore as against Rs. 24,329 crore in the same period during last year. Gross Collections of Personal Income Tax was up by 27.29 percent and stood at Rs.34,805 crore as against Rs.27,343 crore in the same period during last year. Net Direct Tax Collections was up by 6.44 percent and stood at Rs.37596 crore, as compared to Rs. 35,322 crore in the same period in the last fiscal.

Growth in net collections of wealth tax was 86.67 percent . It stood at Rs.28 crore as against Rs.15 crore in the same period during last year while growth in Securities Transaction Tax (STT) was (-) 14.63 percent . It stood at Rs.461 crore as against Rs.540 crore in the same period during last fiscal.

DSM/Ka

(Release ID :96489)

Direct tax collections rise year on year, driven by personal and corporate tax growth despite mixed results in other tax heads. Gross direct tax collections for the April-May period rose materially year on year, with gross collections up 21.10 percent; Corporate Tax grew moderately, Personal Income Tax grew strongly, net direct tax receipts increased at a lower rate than gross collections, Wealth Tax showed a marked percentage rise from a low base, and Securities Transaction Tax declined.