Net direct tax collections rise 16% in April-Sept

This is just 40% of the Budget Estimate of Rs 5,70,257 cr

Net direct tax collections during April-September 2012-13 increased 16.32% at 2,26,603 crore, compared with Rs 1,94,812 crore in the corresponding period of 2011-12. This is about 39.7% of the Budget Estimate of Rs 5,70,257 crore for the current financial year.

Gross direct tax collection during the six-month period increased 5.87% at Rs 2,72,133 crore, against Rs 2,57,042 crore in the same period last year.

While gross collection of corporate taxes showed an increase of 1.6% at Rs 1,78,173 crore against Rs 1,75,360 crore last year, gross collection of personal income tax was up by 14.87% at Rs 93,451 crore, compared with Rs 81,353 crore in the year ago period.

Growth in wealth tax was 53.9% at Rs 474 crore, against Rs308 crore in the year ago period, while collections from securities transaction tax (STT) slipped 17.03% to Rs 2,076 crore, against Rs 2,502 crore in the same period last year.