Gross direct tax collections during April-August of the Financial Year 2013-14 is up by 14.43 percent at Rs.1,88,193 crore as against Rs. 1,64,463 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 11.72 percent and stood at Rs. 1,08,075 crore as against Rs. 96,738 crore in the same period last year. Gross collection of Personal income tax is up by 18.91 percent and stood at Rs. 78,187 crore as against Rs.65,752 crore during the same period last year. Net direct tax collections is up by 15.42 percent and stands at Rs.1,43,138 crore, as compared to Rs. 1,24,019 crore in the same period in the last fiscal.

The collection of Securities Transaction Tax (STT) stands at Rs. 1649 Crores. The Wealth Tax has posted a growth of 24.44 percent and stood at Rs. 280 crore as against Rs. 225 crore in the same period last year.

Direct tax collections increase significantly, driven by corporate and personal income tax growth and higher net receipts. Gross direct tax mobilisation increased in the April-August period, with gross direct tax collections rising year-on-year driven by increases in corporate tax and stronger growth in personal income tax; net direct tax receipts also expanded in the comparable period. The release also notes receipts from Securities Transaction Tax and a marked year-on-year rise in Wealth Tax collections, emphasising the composition of the aggregate increase between corporate and personal income taxes and the contribution of other tax heads to overall direct tax mobilisation.