Press Information Bureau

Government of India

Ministry of Finance

13-June-2012 16:49 IST

Gross Direct Tax Collection Figures for April-May 2012-13 is Up by 3.62 Percent at Rs. 52,232 Crore as Against Rs. 50,407 Crore in the Same Period in F.Y.2011-12

Gross Direct Tax collections during April-May of the F.Y. 2012-13 was up by 3.62 percent at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12. While Gross Collection of Corporate Taxes showed a decline of (-) 2.82 percent during April-May of the F.Y. 2012-13 and stood at Rs. 24,329 Crore as against Rs. 25,035 Crore in the same period in F.Y. 2011-12. Gross collection of Personal Income Tax was up by 10.02 percent and stood at Rs.27,884 Crore as against Rs.25,344 Crore in the same period in F.Y. 2011-12. Net Direct Tax collections, however, showed a significant increase by 172.64 percent during April-May of the F.Y. 2012-13 and stood at Rs.35,323 crore, up from Rs.12,956 crore in the same period in F.Y.2011-12. This upward surge in Net Collections was due to declined in refunds by (-) 54.85 % as compared to year ago period.

Growth in Wealth Tax was (-) 16.67 percent during April-May of the F.Y. 2012-13 and stood at Rs.15 Crore as against Rs.18 Crore in the same period in F.Y.2011-12.On the other hand, growth in Securities Transaction Tax (STT) was 7.36 percent during April-May of the F.Y. 2012-13 as against Rs.540 Crore against Rs.503 Crore in the same period in F.Y.2011-12 .

*****

DSM/SS/GN

Direct tax collections rise as net receipts increase following a sharp reduction in tax refunds. Gross Direct Tax collections for April-May 2012-13 rose modestly driven by higher Personal Income Tax receipts despite a decline in Corporate Tax collections. Net Direct Tax collections increased substantially, principally due to a marked reduction in tax refunds. Wealth Tax contracted whereas Securities Transaction Tax recorded growth, indicating mixed performance across ancillary tax heads.