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Direct tax collections up by over 12 % in India

Indian currency: File Pic
Indian currency: File Pic

The gross direct tax collections in India during April-December was up by 12.33 percent, Indian finance ministry spokesman said.

New Delhi, Jan 6/Nationalturk – The gross direct tax collections in India is up by over 12 per cent.

“The gross direct tax collections during April-December of current financial year 2013-14 is up by 12.33 percent and stood at Rs 4,81,914 crores (Indian currency) as against Rs 4,29,023 crores in the same period last year,” an Indian financial ministry spokesman said.

He said gross collections of Corporate taxes have shown an increase of 9.35 percent and stood at Rs.3,10,126 crore as against Rs. 2,83,605 crore during the same period last year.

‘Collection of personal Income tax up by 18.53 %’

“Gross collection of personal Income tax is up by 18.53 percent and stood at Rs.1,67,589 crore as against Rs. 1,41,385 crore during the same period in last year,” the spokesman said.

He said net direct tax collection was up by 12.53 percent and stands at Rs. 4,15,328 crores, as compared to Rs. 3,69,067 crore in the same period the last fiscal.

“The collection of Securities Transaction Tax (STT) stands at Rs. 3427 Crore showing the growth of 4.04 percent. The Wealth Tax collection has posted a growth of 11.92 percent and stood at Rs. 742 crore as against Rs. 663 crore during the same period in last year,” added the finance ministry spokesman.

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