Net Direct tax Collections Increases by 17.82 Percent in First Seven Months of 2010-11
Net direct tax collections in the first seven months of the current fiscal crossed the mark of rupees two trillion and stood at Rs.2,04,351 crore as on 31st October 2010 (April-October, 2010). This is up from Rs.1,73,447 crore collected during the same period in last fiscal (April-October, 2009) and thereby registering a growth of 17.82 percent.
Growth in Corporate Income Tax was 22.05 percent. The collections from Corporate Tax stood at Rs.1,34,251 crore as on 31st October, 2010 as against Rs.1,09,996 crore in the same period during the last fiscal. Growth in collections from Personal Income Tax (including STT, and residual FBT / BCTT) was 10.33 percent. The collections from Personal Income Tax stood at Rs.69,722 crore as on 31st October, 2010 as against Rs.63,195 crore collected during the same period in last fiscal.
Growth in Wealth Tax collections was 18.50 percent. Total collections from Wealth Tax stood at Rs.378 crore as on 31st October, 2010 as against Rs.319 crore collected during the same period last fiscal. The growth in collections from Securities Transaction Tax was, however, negative at -6.80 percent. The collections from Securities Transaction Tax was Rs.3,602 crore as on 31st October, 2010 as against Rs.3,865 crore collected during the same period in last fiscal.
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