Direct tax mop-up rises 6.77 percent in April-June

July 9th, 2012 - 6:53 pm ICT by IANS  

New Delhi, July 9 (IANS) Collections from direct taxes rose by 6.77 percent to Rs.1,11,182 crore during the first quarter of the current financial year as compared to Rs.1,04,135 crore in the corresponding period of last fiscal, government data showed Monday.

Gross collection from personal income tax rose by 13 percent to Rs.40,520 crore in April-June period of fiscal 2012-13, as compared to Rs.35,858 crore in the same period of last year.

From corporate taxes gross collection increased by a sluggish 3.48 percent to Rs.70,594 crore during the period under review, according to data released by the finance ministry.

However, wealth tax collection dropped by 3.03 percent to Rs.32 crore and from Securities Transaction Tax fell by 0.52 percent to Rs.952 crore.

Net collection from direct taxes in April-June period was Rs.84,273 crore, 47.16 percent higher than Rs.57,267 crore mop-up recorded in the corresponding period of last year. Net and gross collection figures varies substantially because of refunds.

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