Net direct tax mop-up rises 9 pc at Rs 3.46 lakh cr in Apr-Jan

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Net direct tax rises 9 pc at Rs 3.46 lakh cr
New Delhi, Feb 7 (PTI) The net direct tax collection has increased by 9.28 per cent to Rs 3.46 lakh crore in the April-January period mainly on account higher realisation of personal income tax and corporate tax.

The government, however, may miss the full year direct tax collection target of Rs 5.32 lakh crore which envisaged a growth of 19 per cent over the last year.

The net direct tax collection was Rs 3.17 lakh crore in the 10 month period of the 2010-11 fiscal, the Central Board of Direct Taxes (CBDT) said in a statement.

The gross direct tax colleciton during the April-January period, however, was up by 14.57 per cent at Rs 4.25 lakh crore. It was Rs 3.71 lakh crore in the corresponding period a year ago.

As per the official data, gross corporate tax collection was up 12 per cent at Rs 2.85 lakh crore in April-January from Rs 2.55 lakh crore in same period in the previous fiscal.

The personal income tax collection in the 10 month period of the current fiscal was up by 20.43 per cent at Rs 1.38 lakh crore. The growth in wealth tax was 45.11 per cent at Rs 682 crore against Rs 470 crore collected last year.

Amid volatility in the stock market, the securities transaction tax (STT) declined by 27.19 per cent at Rs 4,145 crore.

The STT mop-up was Rs 5,693 crore in the year-ago period. With only two months of the fiscal remaining, the government will have to add Rs 1.86 lakh crore to its tax kitty to meet its budget estimates, which experts say is a tough task.

Read more about: tax, direct tax, income tax
Story first published: Wednesday, February 8, 2012, 0:00 [IST]
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