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Apr-Dec direct tax collections grow at snail's pace

By Religare

Apr-Dec direct tax collections grow at snail's pace
Government's revenue collection continued to grow at a slower pace with the April-December 2012 gross direct tax mop up showing a growth of just 8 per cent at Rs 4.28 lakh crore. The gross direct tax collection stood at Rs 3.96 lakh crore during the year ago period.

However, to achieve the budget target of Rs 5.7 lakh crore, the gross direct tax collections need to grow by at least 15 per cent.

The net direct tax collections were however, up 14 per cent and stood at Rs 3.68 lakh crore, as compared to Rs 3.23 lakh crore in the same period of the last fiscal.

Corporate taxes collections continued to be laggard with gross collection showing an increase of 5 per cent and stood at Rs 2.83 lakh crore in April-December as against Rs 2.69 lakh crore during the same period.

However, personal income tax collections continued to save the day for the government as they rose 15 per cent during the period.

Read more about: direct tax
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