India's Gross Direct tax collection up 11.5% during Q1 FY'14

Posted By: Religare
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India's Gross Direct tax collection up 11.5% during Q1 FY'14
India's gross direct tax collection during the first quarter of current fiscal rose 11.5 per cent at Rs 123,993 crore, said the data released by Ministry of Finance on Tuesday.

The government had mopped up Rs 111,183 crore during the corresponding quarter of previous fiscal.

The data showed that collection of corporate taxes increased 7.8 per cent to Rs 76,115 crore during Q1 FY'14 from Rs 70,594 crore during the year ago period.

Gross collection of personal income tax also increased by 18.53 per cent to Rs 46,903 crore as against Rs 39,569 crore last year, the data said. Net direct tax collection has increased by 6.44 per cent at Rs 89,705 crore, as compared to Rs 84,274 crore in the same period in the last fiscal.

The collection of Securities Transaction Tax (STT) stood at Rs 926 crore during the quarter while the Wealth Tax has posted a growth of 50 per cent at Rs 48 crore against Rs 32 crore last year.

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