Gross direct tax collection up by 6.51%

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Gross direct tax collection up by 6.51%
Gross direct tax collections was marginally by 6.51% at Rs 1,64,413 during April-August of the F.Y 2012-13 crore as against Rs 1,54,361 crore in the same period last year.

Gross collection of Personal Income tax was up by 17.09 per cent at Rs.67,420 crore as against Rs. 57.582 crore in the same period last year.

Net Direct Tax Collections was up by 28.15 per cent and stood at Rs 1,23,969 crore, as compared to Rs. 96,738 crore in the same period in the last fiscal.

Growth in Wealth Tax was 40.63 per cent and stood at Rs.225 crore as against Rs. 160 crore in the same period last year.

Growth in Securities Transaction Tax (STT) was (-) 14.94% at Rs.1719 crore as against Rs.2021 crore during the same period last year.

Last week, Finance Minister P Chidambaram had said that collections would improve in the second half of the fiscal and help achieve the 15% asking rate to achieve the budget target.

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Read more about: direct tax, income tax, tax
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