This Article is From Dec 21, 2013

Net direct tax collection up 13.7% till December 20 in FY'14

Net direct tax collection up 13.7% till December 20 in FY'14
New Delhi:

Amidst a slowdown in the economy, the net direct tax collection has risen by 13.7 per cent to Rs 4.12 lakh crore till December 20 of current fiscal.

The government has fixed direct tax collection target of over Rs 6.68 lakh crore for 2013-14, envisaging a growth of 19 per cent, as against Rs 5.65 lakh crore in 2012-13.

The collections had totalled Rs 3.63 lakh crore during the same period of 2012-13, the Finance Ministry said in a statement today.

Out of above net collection, contribution by way of advance tax up to December quarter has risen by 8.8 per cent to Rs 2,02,626 crore, it said.

The collection of corporate taxes increased 10.2 per cent to Rs 2,60,752 crore up to December 20 of this fiscal, against Rs 2,36,580 crore in the same period last year, the statement said.

Advance tax collection from corporates rose by 8.4 per cent to Rs 1,76,935 crore as compared to the same period last year, it added.

Personal income tax collection was up by 20.5 per cent to Rs 1,47,987 crore till December 20 this fiscal, from Rs 1,22,818 crore in the corresponding period last year. Securities Transaction Tax or STT mop-up stands at Rs 3,427 crore.

Wealth tax collection up to December 20 stood at Rs 752 crore.