Direct tax collections reach 83% of FY15 target at Rs6,12,432 cr

Collection of direct taxes in the first 11 months of the current fiscal (April-March 2014-15) stood at Rs6,12,432 crore, forming about 83 per cent of the target of Rs7,36,000 crore set for the full financial year.

On an year-on-year basis, direct tax mop-up at Rs6,12,432 crore in the April-February 2014-15 period was up 10.67 per cent over the Rs5,53,373 crore collected during the comparable period of the previous financial year.

Corporate tax collections at Rs3,79,917 crore have shown an increase of 9.99 per cent against the Rs3,45,396 crore collected during the same period last year.

Collection of personal income tax is up 11.10 per cent at Rs22,53,13 crore against Rs2,02,806 crore collected during the same period last year.

Securities transaction tax (STT) at Rs6,280 crore showed a growth of 45.44 per cent. Net direct tax collections are up 6.88 per cent at Rs5,06,765 crore, against Rs4,74,146 crore collected in the same period last fiscal.

Advance tax collection showed a growth of 13.41 per cent during April-February of the 2014-15 fiscal against the 8.67 per cent growth reported during the same time in previous fiscal. Growth in TDS is 7.49 per cent as against 16.69 per cent in the same period last year.

Self-assessment tax showed a growth of 22.50 per cent against the 9.91 per cent growth in the same period last year. Growth in regular tax collection stood at 9.09 per cent against 29.97 per cent in the same period last year.