Personal Income Tax Collection up 10.02 Percent in April-May
By
siliconindia | Thursday, June 14, 2012
New Delhi: The gross collection of personal income tax rose 10.02 percent during April-May, 2012-13, to
27,884 crore from
25,344 crore in the like period of 2011-12, official data showed.
According to the data furnished by the finance ministry, gross direct tax collections increased 3.62 percent to
52,232 crore from
50,407 crore in the corresponding period of 2011-12.
The ministry said the net direct tax collection zoomed 172.64 percent during the period under review to
35,323 crore from
12,956 crore in the same period.
The upward surge in net collections was due to decline in refunds, said the ministry in a statement. Refunds fell by 54.85 percent during April-May 2012 from the corresponding period of last fiscal.
However, gross collection of corporate taxes declined 2.82 percent during April-May 2012 and stood at
24,329 crore, down from
25,035 crore in the corresponding period of last fiscal.
Wealth tax too declined. The levy fell 16.67 percent at
15 crore down from
18 crore in the like period of 2011-12.
The Securities Transaction Tax (STT) was up by 7.36 percent during April-May, 2012-13, to
540 crore from
503 crore in April-May, 2011-12.
Source: IANS
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