11.52% increase in Direct Taxes Collection in Q1 of 2013-14
GROSS direct tax collection during April-June of the F.Y. 2013-14 is up by 11.52 percent at Rs. 1,23,993 crore as against Rs. 1,11,183 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 7.82 percent (Rs. 76,115 crore as against Rs. 70,594 crore last year), gross collection of Personal income tax is up by 18.53 percent (Rs.46,903crore as against Rs.39,569crore last year). Net direct tax collection is up by 6.44 percent and stands at Rs.89,705crore, as compared to Rs. 84,274 crore in the same period in the last fiscal.
The collection of Securities Transaction Tax (STT) stands at Rs. 926 Crores. The Wealth Tax has posted a growth of 50.00 percent (Rs.48crore against Rs.32crore last year).
Compliance levels are high and so are corruption levels as per the latest report of Transparency International.