India’s April-November direct tax collection up 7.14 per cent at Rs3,25,696 crore
11 Dec 2012
The government's gross direct tax collections during April-November of the current financial year rose 7.14 per cent to Rs3,25,696 crore, against Rs3,04,002 crore collected during the same period of the previous financial year 2011-12.
Net direct tax collections, however, rose 15.04 per cent year-on-year to Rs2,70,731 crore, against Rs2,35,333 crore collected during the same period during the last fiscal.
Gross collection of corporate taxes during the eight-month period showed an increase of 3 per cent at Rs2,05,301 crore against Rs1,99,317 crore during the same period last year. Collection of personal income tax was up 14.94 per cent at Rs1,19,736 crore against Rs1,04,176 crore during the same period last year.
Net collection of wealth tax rose 27.10 per cent to Rs619 crore during April-November 2012-13 from Rs487 crore during the same period last fiscal.
However, securities transaction tax (STT) collections showed a negative (-)12.83 per cent growth at Rs2,914 crore against Rs3,343 crore collected during the same period during the previous fiscal.
The finance ministry, obviously, is not satisfied with the 7.14 per cent growth in tax collections.
