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Personal income tax collections leave behind corporate tax mo-up in first two months

By TIOL News Service

NEW DELHI, JUNE 07, 2013: THE Gross direct tax collections during April-May of the current Financial Year 2013-14 is up by 21.10 percent at Rs. 63,252 crore as against Rs. 52,231 crore in the same period during the last fiscal.

While Gross Collections of Corporate Taxes showed an increase of 14.91 percent and stood at Rs.27,957 crore as against Rs. 24,329 crore in the same period during last year. Gross Collections of Personal Income Tax was up by 27.29 percent and stood at Rs.34,805 crore as against Rs.27,343 crore in the same period during last year. Net Direct Tax Collections was up by 6.44 percent and stood at Rs.37596 crore, as compared to Rs. 35,322 crore in the same period in the last fiscal.

 Growth in net collections of wealth tax was 86.67 percent. It stood at Rs 28 crore as against Rs.15 crore in the same period during last year while growth in Securities Transaction Tax (STT) was (-) 14.63 percent . It stood at Rs.461 crore as against Rs.540 crore in the same period during last fiscal.


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Sub: Tax payers are honest, taxmen are not

The news ought to cheer up the FM, who always bemoans tax evasion and makes threatening noises about tax evaders. When the corporates pay first installment of advance taxes, they will gain lead over individual tax payers. Tighten the screw on the bureaucrats, instead on the taxpayers.

Posted by Gururaj B N
 

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