Net direct tax collections rise 6.44% in April-May

Net direct tax collections in April-May period rose 6.44 per cent to Rs 37,596 crore compared to Rs 35,322 crore in the same period last fiscal,according to a statement.

During the period, gross collection of corporate taxes went up 14.91 per cent to Rs 27,957 crore. The same stood at Rs 24,329 crore in the corresponding period last fiscal. Gross personal income tax collection was up 27.29 per cent to Rs 34,805 crore compared to Rs 27,343 crore in the same period last fiscal year. Besides, collection from wealth tax stood at Rs 28 crore, up from Rs 15 crore collected in April-May 2012-13.

Growth in Securities Transaction Tax (STT) was (-) 14.63 per cent. Collection stood at Rs 461 crore in April-May period of this fiscal compared to Rs 540 crore in the same period last fiscal. The government has fixed a direct tax collection target of Rs 6.68 lakh crore for the current fiscal, up from 5.65 lakh crore in the previous fiscal.

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