Gross direct taxes collections up 21% in April-May

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Gross direct tax collections during April-May of the current financial year 2013-14 was up by 21 percent at Rs 63,252 crore as against Rs 52,231 crore in the same period last year, government data showed.

While gross collections of corporate taxes showed an increase of 14.91 percent and stood at Rs 27,957 crore as against Rs 24,329 crore in the same period during last year. Gross Collections of personal income tax was up by 27.29 percent and stood at Rs.34,805 crore as against Rs.27,343 crore in the same period during last year. Net direct tax collections was up by 6.44 percent and stood at Rs.37596 crore, as compared to Rs. 35,322 crore in the same period in the last fiscal.

Growth in net collections of wealth tax was 86.67 percent . It stood at Rs.28 crore as against Rs.15 crore in the same period during last year while growth in Securities Transaction Tax (STT) was (-) 14.63 percent . It stood at Rs.461 crore as against Rs.540 crore in the same period during last fiscal.

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