Net direct tax collections rise by 13.3% in Apr-Oct FY14

 

Gross direct tax collections during April-October 2013-14 has increased to Rs. 3,37,907 crore as against Rs. 3,02,844 crore during the corresponding period of last year with a growth of 11.58%. The gross collections of corporate taxes has also scaled up to Rs. 2,09,622 crore from Rs. 1,93,679 crore during the same period, with a growth of 8.23%.  Gross collections of personal income tax posted a growth of about 18%, which stood at Rs. 1,25,078 crore during April- October 2013-14 as against Rs. 1,06,097 crore during the same period last year.

 

Net direct tax collections increased to Rs. 2,84,339 crore during April- October 2013-14 as against Rs. 2,50,900 crore during corresponding period of last year posting a growth of 13.33%. The collection of wealth tax registered a growth of 5.8%, which stood at Rs. 560 crore in Apr- October 2013-14 as against Rs. 529 crore during the same period last year, while the collection of securities transaction tax (STT) stood at Rs. 2,645 crore with growth of 5.6% during Apr- October 2013-14.

 

 

Warm regards,

 

Dr. S P Sharma

Chief Economist