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Direct tax kitty up 13% in FY12

June, 07th 2012
India's gross direct tax collection rose by 13.02% to Rs 5, 90,077 crore in the last fiscal, the Central Board of Direct Taxes (CBDT) said on Wednesday. The collection was Rs 5, 22,104 crore in 2010-11. The net collection (after refunds) was Rs 4, 94,799 crore in the last fiscal, up 10.71% from Rs 4, 46,935 crore in the previous fiscal. According to CBDT, gross collection of corporate taxes was Rs 3, 96,208 crore in the last fiscal, up 11.52 per cent over the previous fiscal's Rs 3, 55,267 crore. Gross revenue from personal income tax was up by 16.20% to Rs 1, 93,042 crore in 2011-12. It was Rs 1, 66,130 crore in fiscal 2010-11. The CBDT said growth in wealth tax was 14.56% at Rs 787 crore as against Rs 687 crore in 2010-11. However, the collection in form of securities transaction tax declined by 21% to Rs 5,656 crore last fiscal. It was Rs 7,155 crore in 2010-11.