Gross direct tax collections rose 13.27 per cent to Rs 1.57 lakh crore in the April-July period. The collections had totalled Rs 1.38 lakh crore in the corresponding period of the previous fiscal year.
Gross collection of corporate taxes increased 9.75 per cent to Rs 92,115 crore in April-July from Rs 83,932 crore a year earlier, the finance ministry said in a statement today. Gross collection of personal income tax was up 19.32 per cent to Rs 63,583 crore in the first four months of the fiscal compared with Rs 53,289 crore in the period a year ago.
Net direct tax collections rose 10.37 per cent to Rs 1,16,645 crore during April-July as against Rs 1,05,684 crore year-on-year, according to the statement.
Securities Transaction Tax or STT mop-up stands at Rs 1,267 crore. Wealth tax collection posted a growth of 38.62 per cent to Rs 201 crore from Rs 145 crore. The government has fixed a direct tax collection target of over Rs 6.68 lakh crore for the current fiscal, a growth of 19 per cent from Rs 5.65 lakh crore in the previous fiscal.