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

Gross direct tax collections during April-May 2013-14 has increased to Rs. 63,252 crore as against Rs. 52,231 crore during the corresponding period of last year with a growth of around 21% The gross collections of corporate taxes has also scaled up to Rs. 27,957 crore from Rs. 24,329 crore with a growth of around 15% during the same period. Gross collections of personal income tax posted robust growth of about 27%, which stood at Rs. 34,805 crore during April-May 2013-14 as against Rs. 27,343 crore during the same period last year.

Net direct tax collections increased to Rs. 37,596 crore during April-May 2013-14 as against Rs. 35,322 crore during corresponding period last year posting a growth of 6.44%. The growth in net collection of wealth tax is at 86.67%, which stood at Rs. 28 crore in Apr-May 2013-14 as against Rs. 15 crore during the same period last year, while growth in securities transaction tax (STT) stands at (-) 14.63%, which stood at Rs. 461 crore as against Rs. 540 crore during the same period.