Net direct tax collections rise by 14.6% in Apr-Nov FY14

Gross direct tax collections during April-November 2013-14 has increased to Rs. 3,68,655 crore as against Rs. 3,25,736 crore during the corresponding period of last year with a growth of 13.18%. The gross collections of corporate taxes has also scaled up to Rs. 2, 25,124 crore from Rs. 2, 05,291 crore during the same period, with a growth of 9.66%.  Gross collections of personal income tax posted a growth of about 19.60%, which stood at Rs. 1,39,763 crore during April-November 2013-14 as against Rs. 1,16,862 crore during the same period last year.

Net direct tax collections increased to Rs. 3, 10, 317 crore during April-November 2013-14 as against Rs. 2,70, 771 crore during corresponding period of last year posting a growth of 14.60%. The collection of wealth tax registered a growth of 13.38%, which stood at Rs. 712 crore in April-November 2013-14 as against Rs. 628 crore during the same period last year, while the collection of securities transaction tax (STT) stood at Rs. 3,053 crore with growth of 4.73% during April-November 2013-14.

Warm regards,

Dr. S P Sharma

Chief Economist