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Gross Direct Tax collections during April-May of the F.Y. 2012-13 was up by 3.62 percent at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12. While Gross Collection of Corporate Taxes showed a decline of (-) 2.82 percent during April-May of the F.Y. 2012-13 and stood at Rs. 24,329 Crore as against Rs. 25,035 Crore in the same period in F.Y. 2011-12. Gross collection of Personal Income Tax was up by 10.02 percent and stood at Rs.27,884 Crore as against Rs.25,344 Crore in the same period in F.Y. 2011-12. Net Direct Tax collections, however, showed a significant increase by 172.64 percent during April-May of the F.Y. 2012-13 and stood at Rs.35,323 crore, up from Rs.12,956 crore in the same period in F.Y.2011-12. This upward surge in Net Collections was due to declined in refunds by (-) 54.85 % as compared to year ago period.
Growth in Wealth Tax was (-) 16.67 percent during April-May of the F.Y. 2012-13 and stood at Rs.15 Crore as against Rs.18 Crore in the same period in F.Y.2011-12.On the other hand, growth in Securities Transaction Tax (STT) was 7.36 percent during April-May of the F.Y. 2012-13 as against Rs.540 Crore against Rs.503 Crore in the same period in F.Y.2011-12 .
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HERO
wrote on 14 June 2012
THIS IS IMPORTANT NEWS FOR ME.
KEEP YOUR ANALYSIS, IN THIS WAY, GOING.
CA Bikash Ranjan Das ACA, CMA
wrote on 14 June 2012
This is very positive sign for the Indian economy.But Indian economy always has reverse effect in itself.Against every Positive element there is a negative element to nullify it. for example ;you can say the excess collection of tax will recoup corruption charges, inflation.So country and its people will be in same seat as before.
From this Statistics it is very clearly understood if you go on tightening a nut, finally it will be loose. The margin of personal tax is increasing from 160000 to 180000 and to 200000. So people are feeling good to pay tax and result is good. For Corporate the MAT go on increasing from 10 % to 15% then to 18 %.due to which the tax collection is go on reducing.
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