Direct tax collection up 11.58 percent in April-October period

Gross direct tax collections increased by 11.58 percent to Rs.3,37,907 crore in April-October period of the current financial year as compared to Rs.3,02,844 crore recorded in the same period last fiscal, government data showed Wednesday.

Gross collection of personal income tax jumped by 17.89 percent to Rs.1,25,078 crore in the first seven months of 2013-14 as compared to Rs.1,06,097 crore in the same period last year.

However, collections of corporate taxes rose at a sluggish 8.23 percent to Rs.2,09,622 crore during the period under review, according to data released by the finance ministry here.

Net direct tax collections increased by 13.33 percent to Rs.2,84,339 crore in April-October period of 2013-14 year-on-year.

The difference in gross and net tax collection is due to refunds.

The collection of Securities Transaction Tax (STT) stands at Rs.2,645 crore during the period under review, showing a year-on-year increase of 5.67 percent.

Wealth Tax increased by 5.86 percent to Rs.560 crore.