Direct tax collections during April-December this fiscal, are up by 14.54 per cent. This is mainly due to an increase in corporate tax mop-up. As per the data released by the Central Board of Direct Taxes (CBDT), the gross collection of corporate tax was up 12.49 per cent at 2,69,850 crore rupees in April-December against 2,39,883 crore rupees in same period in in the previous fiscal.
The personal income tax collection in the three quarters of the current fiscal was up by 19.06 per cent at 1,25,998 crore rupees.
CBDT said the growth in wealth tax is 54.18 per cent in the same period. Amid volatility in the stock market, the securities transaction tax (STT) declined by 26.48 per cent at 3,763 crore rupees.
GROSS DIRECT/CORPORATE TAXES COLLECTION DURING APRIL-DECEMBER, 2011
Press Release No. 402/92/2006-MC( 1 of 2012), dated 4-1-2012
Gross direct tax collection during April-December of the current fiscal was up by 14.54 percent at Rs.3,96,529 crore as against Rs. 3,46,182 crore in the same period last fiscal. While gross collection of corporate taxes was up 12.49 percent (Rs.2,69,850 crore against Rs.2,39,883 crore last year), gross collection of personal income tax was up by 19.06 percent (Rs.1,25,998 crore against Rs.1,05,831 crore last year). Net direct tax collections stood at Rs.3,23,955 crore, up from Rs.2,98,957 crore in the same period last fiscal, registering a growth of 8.36 percent.
Growth in wealth tax was 54.18 % (Rs.646 crore against Rs.419 crore) while for securities transaction tax (STT) it was -26.48 percent (Rs.3763 crore against Rs 5118 crore).