Page 7 - Direct Tax

Direct tax mop-up till February high but below target

Direct tax collection grew by 10.7 per cent in the first 11 months of this financial year (April 2016 till February 2017) over the same period a year before, less than the set target. The full-year target is Rs 8.47 lakh crore or 14.3 per cent more. With Rs 6.17 lakh crore collected in these 11 months, March has to see a 20-plus per cent growth to achieve the target.The subdued tax numbers were due to fall in growth of both corporation tax due to still-awaited recovery in the performance of companies and personal income tax in April-February compared to April-January period. "We are hopeful of achieving the target. Net tax collections have been low due to substantially higher refunds issued compared to the previous fiscal. Besides, the corporate sector is yet to show a pick-up," said a government official.Corporation tax growth was 2.6 per cent up to February, slower than the 2.9 per cent in the period to January. Personal income tax grew 20 per cent up to February, against 23.1 per ..

Mumbai, Delhi see tepid direct tax collection growth

New Delhi alone has collected a total tax amounting to Rs 74,147 crore during the reporting period

Direct tax collections till Sept grew 8.95% to Rs 3.27 lakh cr: Finance Ministry

The statement further said that till September, 2016, advance tax collections have reached Rs 1.58 lakh crore

Direct tax mop-up rises 15% to Rs 1.89 lakh crore in April-August

Gross collection of Corporate Income Tax grew at 11.55 per cent, while that under personal income tax it was 24.06 per cent

Direct tax mop up at 5.54 lakh cr, indirect at Rs 5.69 lakh cr: Govt

According to revised estimate, Rs 7.52 lakh crore was estimated to come from direct taxes and Rs 7.03 lakh crore from indirect taxes