Net direct tax collections rise more than 10% to Rs 1.17 lakh crore

Net direct tax collections rise more than 10% to Rs 1.17 lakh croreGovernment's net direct tax collection jumped more than 10 per cent year-on-year during the April-July period of the current financial year, according to fresh official stats.

Figures released on Wednesday by the Finance Ministry showed that net direct tax collections jumped 10.37 per cent to Rs 1.17 lakh crore in the four months ended July this year, from Rs 1.06 lakh crore in the corresponding period of FY2012-13.

Gross direct tax collections increased at even higher rate of 13.27 per cent, from Rs 1.38 lakh crore in the April-July period of FY2012-13 to Rs 1.57 lakh crore in the same period of current year.

Gross corporate tax collection during the four-month period under review was recorded at Rs 92,115 crore, up 9.75 per cent from Rs 83,932 crore collected in the year ago period.

The gross collection of personal income tax increased 19.32 per cent, from Rs 53,289 crore to Rs 63,583 crore.

As for the other taxes, Securities Transaction Tax collection jumped Rs 1,267 crore, while the collection of wealth tax jumped 38.62 per cent year-on-year to Rs 201 crore.