Home ECONOMY Gross direct tax collection up 11 percent

Gross direct tax collection up 11 percent

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New Delhi, Feb 13:

The government Friday reported an increase of 11.38 percent in gross direct tax collection at Rs.578,715 crore during the first ten months of 2014-15 on the back of healthy growth in revenues from corporate taxes.

tax--621x414The gross direct tax collection in the corresponding period of last fiscal stood at Rs.519,588 crore.

Gross collection of corporate taxes rose by 11.04 percent to Rs.364,665 crore, while the collection from personal income tax increased by 11.32 percent at Rs.207,613 crore.

Collection from securities transaction tax (STT) was up by 44.12 percent and stood at Rs.5,556 crore.

Net direct tax collections were up by 6.21 percent and stood at Rs.474,488 crore from Rs.446,756 crore in the like period of last fiscal.

Advance tax collections grew by 13.26 percent during the period under review as against the growth of 8.71 percent shown during the corresponding period of last fiscal.

Growth in tax deduction at source (TDS) was 7.79 percent from an increase of 16.65 percent in like period of last fiscal. IANS

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