Direct tax collection up 12.33% in Apr-Dec at Rs 4.81 lakh cr

Amid a slowing economy, gross direct tax collections rose 12.33 per cent to Rs 4.81 lakh crore during the first nine months of this financial year.

Direct tax collections totalled Rs 4.29 lakh crore during the April-December period in 2012-13.

Net direct tax collections rose 12.53 per cent to Rs 4.15 lakh crore during the period this year, compared with Rs 3.69 lakh crore in the year-ago period, the Finance Ministry said in a statement today.

The government had set a direct tax collection target of over Rs 6.68 lakh crore for 2013-14, envisaging a growth of 19 per cent from Rs 5.65 lakh crore in 2012-13.

The gross collection of corporate taxes increased 9.35 per cent to Rs 3.1 lakh crore from Rs 2.84 lakh crore, the Finance Ministry said.

Gross collection of personal income tax was up 18.53 per cent to Rs 1.67 lakh crore in the first nine months from Rs 1.41 lakh crore.

Securities Transaction Tax mop-up stood at Rs 3,427 crore. Wealth tax collection posted a growth of 11.92 per cent to Rs 742 crore from Rs 663 crore.

Meanwhile, Finance Minister P Chidambaram today met chief commissioners handling both direct and indirect taxes to take stock of the revenue mop-up.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • Govt can’t clamp down on voices that ask uneasy questions

    It has hardly been a peaceful annum for Greenpeace’s India arm that has been in and out of trouble over the last one year.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

<b>Risk Factor:</b> The blame game

In decision-making, the fundamental attribution error (FAE), also known as ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture