Net direct tax collections rise by 6.44% in Apr-June 2013-14

Gross direct tax collections during April-June 2013-14 has increased to Rs. 1,23,993 crore as against Rs. 1,11,183 crore during the corresponding period of last year with a growth of around 11.5%. The gross collections of corporate taxes, during the same corresponding period of last year, have also scaled up to Rs. 76,115 crore from Rs. 70,594 crore with a growth of around 7.8%.  Gross collections of personal income tax posted robust growth of about 18.5%, which stood at Rs. 46,903 crore during April- June 2013-14 as against Rs. 39,569 crore during the same period last year.

Net direct tax collections increased to Rs. 89,705 crore during April- June 2013-14 as against Rs. 84,274 crore during corresponding period last year posting a growth of 6.44%. The growth in net collection of wealth tax is at 50%, which stood at Rs. 48 crore in Apr- June 2013-14 as against Rs. 32 crore during the same period last year, while the collection of securities transaction tax (STT) stands at Rs. 926 crore during Apr- June 2013-14.

Warm regards,

Dr. S P Sharma

Chief Economist