Ushering the new fiscal on a positive note, net direct tax collections in 2013 Aprli-May period rose by 6.44% at Rs. 37,596 crore compared to the same period last fiscal (2012-13). Net direct tax collections, which are gross collections minus refunds, stood at Rs. 35,322 crore in April-May period of 2012-13 fiscal.
Gross direct tax collections rose by 21.10% to Rs. 63,252 crore in April - May period of 2013-14 fiscal year from a year-ago period, an official statement said.
During Apri l- May period, the gross collection of corporate taxes went up by 14.91% to Rs. 27,957 crore. The same stood at Rs. 24,329 crore in the corresponding period last fiscal.
The gross collection in personal income tax was up by 27.29% to Rs. 34,805 crore compared to Rs. 27,343 crore in the same period last fiscal year.
Besides, collection from wealth tax stood at Rs. 28 crore, up from Rs. 15 crore collected in April - May 2012-13.
Growth in Securities Transaction Tax (STT) was minus 14.63%. Collection stood at Rs. 461 crore in April - May period of this fiscal compared to Rs. 540 crore in the same period last fiscal.
The central government has fixed a direct tax collection target of Rs. 6.68 lakh crore for the current fiscal, up from Rs. 5.65 lakh crore in the previous fiscal.
