Net direct tax collections rise 6.44% in April-May period
New Delhi: Ushering the new fiscal on a positive note, net direct tax collections in April-May period rose by 6.44 percent at Rs 37,596 crore compared to the same period last fiscal.
Net direct tax collections, which are gross collections minus refunds, stood at Rs 35,322 crore in April-May period of 2012-13 fiscal.
Gross direct tax collections rose by 21.10 percent to Rs 63,252 crore in April-May period of 2013-14 fiscal year from a year-ago period, an official statement said.
During April-May period, the gross collection of corporate taxes went up by 14.91 percent to Rs 27,957 crore. The same stood at Rs 24,329 crore in the corresponding period last fiscal.
The gross collection in personal income tax was up by 27.29 percent to Rs 34,805 crore compared to Rs 27,343 crore in the same period last fiscal year.
Besides, collection from wealth tax stood at Rs 28 crore, up from Rs 15 crore collected in April-May 2012-13.
Growth in Securities Transaction Tax (STT) was (-) 14.63 percent. Collection stood at Rs 461 crore in April-May period of this fiscal compared to Rs 540 crore in the same period last fiscal.
The government has fixed a direct tax collection target of Rs 6.68 lakh crore for the current fiscal, up from 5.65 lakh crore in the previous fiscal.
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