Direct tax collection up 14.54% at Rs 3.97 lakh cr in Apr-Dec | business | Hindustan Times
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Direct tax collection up 14.54% at Rs 3.97 lakh cr in Apr-Dec

business Updated: Jan 04, 2012 18:34 IST

Direct tax collections during April-December this fiscal were up by 14.54% at Rs 3,96,529 crore over the corresponding period last fiscal, mainly due to an increase in corporate tax mop-up.

The gross direct tax collection in the first three quarters of 2010-11 was Rs 3,46,182 crore.

As per the data released by the Central Board of Direct Taxes (CBDT), the gross collection of corporate tax was up 12.49% at Rs 2,69,850 crore in April-December against Rs 2,39,883 crore 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% at Rs 1,25,998 crore.

CBDT said the net direct tax collections (minus refunds issued to the assessess) stood at Rs 3,23,955 crore in April-December. This was up by 8.36% from Rs 2,98,957 crore collected in the same period last fiscal.

The growth in wealth tax was 54.18% at Rs 646 crore against Rs 419 crore collected last year.

Amid volatility in the stock market, the securities transaction tax (STT) declined by 26.48% at Rs 3,763 crore. The STT mop-up was Rs 5,118 crore in the first three quarters of the last fiscal.

In the Budget 2011-12, the government had envisaged to collect Rs 5.32 lakh crore from direct taxes this fiscal.