Gross direct tax collection during April-December of the Financial Year 2014-15 is up by 12.93 percent
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Dated- 23rd January, 2015
PRESS RELEASE
Gross direct tax collection during April-December of the Financial Year 20 14- 15 is up by 12.93 percent at Rs. 5,46,661 crore as against Rs. 4,84,063 crore collected during the same period last year. Gross collection of Corporate tax has shown an increase of 12.79 percent and stood at Rs. 3,50,494 crore as against Rs. 3,10,754 crore collected during the same period last year. Gross collection of Personal income tax is up by 12.62 percent and stood at Rs.1,90,391 crore as against Rs.1,69,059 crore collected during the same period last year. Securities Transaction Tax(STT) stands at Rs. 4940 crore at a growth of 43.44%. Net direct tax collections are up by 7.41 percent and stand at Rs. 4,48,401 crore, as compared to Rs. 4,17,477 crore in the same period in the last fiscal.
2. Advance tax collection has shown a growth of 13.15% during April-December of the FY 2014-15 as against the growth of 8.76% shown at the same time previous year. Growth in TDS is 7.84% as against 16.73% in the same period last year.
3. The Self-Assessment Tax shows a growth of 22.20% as against 11.86% in the same period last year. The growth in Regular Tax is 33.03% as against 15.60% in the same period last year.
(Rekha Shukla)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
In spite of increase in basic exemption and 80C benefits up to Rs.1 lakh the budget collections are at very satisfactory levels. The Finance Ministry may consider to allow the voluntary filers might be entitled to get adjust the refund claims from of the following financial year tax deduction / advance payment of taxes. This will enable the Government to reduce the litigation of refunds and connected issues and also large amounts of interest on refunds. The tax deductors may accept the acknowledgment in support of proof of filing income tax return.