Press Information Bureau

Government of India

Ministry of Finance

08-February-2012 14:29 IST

Tax Collection During April-January of the Current Fiscal up by 14.57 Percent

Gross direct tax collection during April-January of the current fiscal was up by 14.57 percent at Rs.4,25,274 crore as against Rs.3,71,188 crore in the same period last fiscal. While gross collection of corporate taxes was up 11.87 percent (Rs.2,85,837 crore against Rs.2,55,514 crore last year), gross collection of personal income tax was up by 20.43 percent (Rs.1,38,730 crore against Rs.1,15,192 crore last year). Net direct tax collections stood at Rs.3,46,959 crore, up from Rs.3,17,500 crore in the same period last fiscal, registering a growth of 9.28 percent.

Growth in wealth tax was 45.11 percent (Rs.682 crore against Rs.470 crore), while growth in securities transaction tax (STT) was -27.19 percent (Rs.4,145 crore against Rs.5,693 crore).

DSM/SS/GN

Direct tax collection growth driven by personal and corporate tax increases while securities transaction tax declines. Gross direct tax collections rose during April-January of the fiscal year, with personal income tax growing faster than corporate tax; net direct tax receipts increased though by a smaller margin. Wealth tax showed notable growth while securities transaction tax declined, reflecting a shift in revenue contributions among personal, corporate, wealth and transaction based tax heads for the period.