Adding to the woes of slowing economy, India’s gross direct tax collections rose 12.33% to Rs 4.81 lakh crore during the first nine months of this financial year. The same totaled to Rs 4.29 lakh crore during the April-December period in 2012-13. The net direct tax collections rose by 12.53 per cent to Rs 4.15 lakh crore during the period this year, compared with Rs 3.69 lakh crore in the year-ago period.
It remains to be noted that the government had set a direct tax collection target of over Rs 6.68 lakh crore for 2013-14, envisaging a growth of 19 per cent from Rs 5.65 lakh crore in 2012-13.
Out of the total direct tax collection, the gross collection of corporate taxes increased by 9.35 per cent to Rs 3.1 lakh crore from Rs 2.84 lakh crore, personal income tax was up 18.53 per cent to Rs 1.67 lakh crore in the first nine months from Rs 1.41 lakh crore, Securities Transaction Tax mop-up stood at Rs 3,427 crore and wealth tax collection posted a growth of 11.92 per cent to Rs 742 crore from Rs 663 crore during the same period in last year.
It remains to be noted that the government had set a direct tax collection target of over Rs 6.68 lakh crore for 2013-14, envisaging a growth of 19 per cent from Rs 5.65 lakh crore in 2012-13.
Out of the total direct tax collection, the gross collection of corporate taxes increased by 9.35 per cent to Rs 3.1 lakh crore from Rs 2.84 lakh crore, personal income tax was up 18.53 per cent to Rs 1.67 lakh crore in the first nine months from Rs 1.41 lakh crore, Securities Transaction Tax mop-up stood at Rs 3,427 crore and wealth tax collection posted a growth of 11.92 per cent to Rs 742 crore from Rs 663 crore during the same period in last year.
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