Net direct tax collections rise by 10.7% in Apr-Sep FY14

Gross direct tax collections during April-September 2013-14 has increased to Rs. 3,01,250 crore as against Rs. 2,72,221 crore during the corresponding period of last year with a growth of around 10.6%. The gross collections of corporate taxes has also scaled up to Rs. 1,92,308 crore from Rs. 1,78,173 crore during the same period, with a growth of around 7.9%.  Gross collections of personal income tax posted a growth of about 16.2%, which stood at Rs. 1,06,231 crore during April- September 2013-14 as against Rs. 91,463 crore during the same period last year.

Net direct tax collections increased to Rs. 2,50,959 crore during April- September 2013-14 as against Rs. 2,26,653 crore during corresponding period of last year posting a growth of 10.72%. The collection of wealth tax registered a growth of 5.3%, which stood at Rs. 499 crore in Apr- September 2013-14 as against Rs. 474 crore during the same period last year, while the collection of securities transaction tax (STT) stood at Rs. 2,210 crore with growth of 6.4% during Apr- September 2013-14.

Warm regards,

Dr. S P Sharma

Chief Economist