Net direct tax collection up 13.33% in Apr-Oct 2013

Posted By: Religare
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Net direct tax collection up 13.33% in Apr-Oct 2013
Net direct tax collections in the April-October period of current fiscal rose 13.33 per cent at Rs 2.84 lakh crore versus Rs 2.50 lakh crore in the corresponding period of previous fiscal, said the data released by government on Wednesday.

The data also showed that gross direct tax collections during April-October of the current financial year 2013-14 rose by 11.58 per cent and stood at Rs 3.37 lakh crore as against Rs 3.02 lakh crore in the same period last year.

However, the direct tax mop up during the period remained far below the projected growth target of 20 per cent for the fiscal, signalling that the policymakers will have tough time ahead to meet the fiscal deficit targets.

The government has set a direct tax collection target of Rs 6.68 lakh crore for the entire fiscal.

Meanwhile, the collection of Securities Transaction Tax (STT) stood at Rs 2,645 crore in Apr-Oct 2013 period, showing the growth of 5.67 per cent as compared to collections made in the same period in the last fiscal.

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