Direct Tax Collection for June Quarter of FY 2013-14 increased by 11.52 percent

The Union Ministry of Finance on 9 July 2013 released its report on Direct Tax Collection of June Quarter of Financial Year (FY) 2013-14. As per the released report, the Gross Direct Tax Collection during the April-June quarter of FY 2013-14 increased by 11.52 percent at 123993 crore rupees against 111183 crore rupees in the same period in FY 2012-13.

As per the latest report released by the Finance Ministry, the Collection of Corporate Taxes has gone up by 7.82 percent at 76115 crore rupees in April-June quarter FY 2013-14 as against 70594 crore rupees in the same period in FY 2012-13. Gross Collection of Personal Income Tax went up by 18.53 percent at 46903 crore rupees in first quarter of FY 2013-14 against 39569 crore rupees in the same period in FY 2012-13.

Net Direct Tax Collection is up by 6.44 percent and stands at 89705 crore rupees in the first quarter of FY 2013-14 as compared to 84274 crore rupees in the same period in the last fiscal. Registering a growth of 50.00 percent, the Wealth Tax went up to 48 crore rupees against the 32 crore rupees of first quarter of FY 2012-13. The collection of Securities Transaction Tax (STT) went up to 926 Crores rupees.