Direct tax collection rises 10% in first four months of 2013-14

Gross direct tax mop up rises over 13%

Direct tax collection (net of refunds) was up 10.4 per cent at Rs 1,16,645 crore in the first four months of this financial year, against Rs 1,05,684 crore a year ago.

The Budget for 2013-14 projected the collections to rise 17.2 per cent to Rs 6.7 lakh crore against Rs 5.7 lakh crore in the revised estimate of 2012-13.

Gross direct tax (inclusive of refunds) mop-up rose 13.3 per cent to Rs 1.6 lakh crore against Rs 1.4 lakh crore a year ago, an official statement said.

While gross collection of corporate taxes rose 9.8 per cent to Rs 92,115 crore during April-July in 2013-14 against Rs 83,932 crore a year ago, that of personal income tax was up 19.3 per cent to Rs 63,583 crore against Rs 53,289 crore.

Securities transaction tax yielded Rs 1,267 crore for the exchequer.

The wealth tax posted a growth of 38.6 per cent to stand at Rs 201 crore against Rs 145 crore.