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Net direct tax collection up 15 pc in in Apr-Nov
December, 11th 2012

Net direct tax collection grew by 15.04 per cent to Rs 2,70,731 crore during April-November period of the current fiscal, with nearly three-fifth coming from the corporate sector.

The net corporate tax collection, according to a Finance Ministry official, stood at Rs 1,62,897 crore during the eight months ending November 2012.

The personal tax mop-up stood at Rs 1,07,215 crore and wealth tax collection was at Rs 619 crore during the period.

The net direct tax collection in November stood at Rs 19,863 crore, the official added.
Despite slowdown in the economic activities, the government has expressed confidence in meeting direct tax target of Rs 5.70 lakh crore for 2012-13. Direct taxes include income tax, corporate tax and wealth tax.

While the growth in direct tax collection was slow in first half of the current fiscal, the government expects it to pick up in the remaining period of 2012-13.

December 15 is the last date for paying the third instalment of advance tax for corporates and the second instalment for all other assesses.

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