Gross direct tax collection up 26 percent
September 8th, 2011 - 8:04 pm ICT by IANSNew Delhi, Sep 8 (IANS) Gross direct tax collection increased by 25.89 percent at Rs.154,360 crore during the first five months of 2011-12 on the back of healthy growth in revenues from corporate taxes, official data showed Thursday.
However, net collection of direct taxes during April-August period declined to Rs.96,738 crore, from Rs.100,113 crore during the same period last year.
Net collection has declined due to 156.04 percent increase in tax refunds, which stood at Rs.57,622 crore in the period under review as against Rs.22,505 crore during the corresponding period last fiscal, according to data released by the ministry of finance.
Gross collection of corporate taxes rose by 29.72 percent to Rs.96,597 crore, while the collection from personal income tax increased by 19.91 percent at Rs.57,582 crore.
Collection from wealth tax increased by 22.14 percent at Rs.160 crore. However, the collection from securities transaction tax declined by 9.09 percent at Rs.2,021 crore.
- Direct tax collections up 27 percent in April-July - Aug 12, 2011
- Direct tax collections rise 14.6 percent in April-January - Feb 08, 2012
- Direct tax collection in Q1 up 24 percent - Jul 07, 2011
- Union Bank of India quarterly net profit up - May 09, 2012
- Indirect tax mop-up surges 46 percent to Rs.1,24,170 crore - Sep 14, 2010
- Direct tax collection rises 14 percent to Rs.1,00,112 crore - Sep 06, 2010
- Allahabad Bank's net up 21.22 pc in Q2 - Nov 02, 2011
- HDFC Bank third quarter net profit up 31.2 percent - Jan 19, 2012
- Direct tax mop-up jumps 21 percent - Mar 09, 2011
- Government hopes to meet indirect tax collection target - Feb 08, 2012
- NTPC quarterly net profit rises 15 percent - Oct 25, 2011
- Tax department targets Rs.26,000 crore revenue from Bengal - Jun 08, 2011
- Government to collect Rs.7.45 lakh crore tax in 2010-11 - Sep 29, 2010
- Vijaya Bank net up 21 percent in first quarter - Jul 22, 2010
- ICICI's third quarter net profit up 20.25 percent - Jan 31, 2012
Tags: corporate taxes, crore, direct taxes, five months, ministry of finance, New Delhi, personal income tax, rs 2, tax refunds, transaction tax, wealth tax