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Direct Tax collections up by 47.16% in April-June

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Updated: Tuesday, July 10, 2012, 10:15 [IST]
 
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Direct Tax collections up by 47.16% in April-June

As per the data released by the government, net direct tax collections rose by 47.16% and stood at Rs.84,273 crore, as compared to Rs.57,267 crore in the same period in the last fiscal. The sharp rise was due to higher refunds that pulled down the net collections in the last period.

While, gross collection of direct tax during April-June of the Financial Year 2012-13 was up by 6.77% at Rs. 1,11,182 crore as against Rs. 1,04,135 crore in the same period during the last year.

Gross collection of Corporate Taxes showed an increase of 3.48% and stood at Rs. 70,594 crore as against Rs. 68,223 crore in the same period during last year.

Gross collection of Personal Income Tax was up by 13% and stood at Rs.40,520 crore as against Rs.35,858 crore in the same period during last year.

Collections from Wealth Tax dipped (-) 3.03% and stood at Rs.32 crore as against Rs.33 crore in the same period during the last fiscal, while growth in Securities Transaction Tax (STT) showed decline by (-) 0.52% and stood at Rs.952 crore as against Rs.957 crore in the same period during the last year.

GoodReturns.in

Topics: tax, government
Story first published:  Tuesday, July 10, 2012, 10:10 [IST]
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