Direct tax collection up 14.57 cent, indirect tax mop-up on target
08 Feb 2012
Direct tax collection in the country rose 14.57 per cent to Rs4,25,274 crore in the first 10 months of the current financial year even as the Central Board of Excise and Customs said it has so far collected 80.74 per cent of the target and hoped to achieve the budget estimate of Rs3,92,908 in indirect taxes during the current fiscal.
Gross direct tax collection of the government rose 14.57 per cent to Rs4,25,274 crore in the first 10 months of the current financial year (April-January 2011-12) against Rs3,71,188 crore collected in the same period last fiscal.
Net direct tax collection stood at Rs3,46,959 crore, up from Rs3,17,500 crore in the same period last fiscal, recording a growth of 9.28 per cent.
The gains were made possible by a 20.43 per cent rise in personal income tax to Rs1,38,730 crore during the period, against Rs1,15,192 crore in the same period last year.
Gross collection of corporate taxes was up 11.87 per cent at Rs2,85,837 crore, against Rs2,55,514 crore last year.
Wealth tax increased the most, at 45.11 per cent, gaining Rs682 crore in the first 10 months of the current fiscal, against Rs470 crore collected in the similar period of the previous fiscal.
.webp)
