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Direct taxes collections exceed Rs 4 lakh crore; Rs 3400 Cr mopped up from STT

By TIOL News Service

NEW DELHI, DEC 21, 2013: NET direct tax collections for the current F.Y. 2013-14, upto 20th December 2013, stood at Rs. 4,12,918 crore as against Rs. 3,63,338 crore in the same period last year showing a growth of 13.7%. Corporate tax collections are Rs. 2,60,752 crore as against Rs. 2,36,580 crore collected to date last year; showing a growth of 10.2%. Similarly, Personal income tax collections are Rs. 1,47,987 crore as against Rs. 1,22,818 crore collected to date last year which is a growth of 20.5%. The collection of Securities Transaction Tax (STT) and Wealth Tax stands at Rs. 3427 crore and Rs 752 crore, respectively.

Out of the above net collections, contribution by way of advance tax upto the December Quarter has been Rs 2,02,626 crore which is an overall growth of 8.8%. Advance tax collections from Corporates has been Rs 1,76,935 crore which is a growth of 8.4% as against previous year's collection. This is better than the growth rate of 7.0% during the same period last year. Advance Tax collection under Personal Income tax head is Rs 25,686 crore, showing a rise of 11.9% upto this Quarter.


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