IT Dept Collects Rs 20,000 more Direct tax till September 2013 as Compared to the Same Period Last Year

New Delhi: Net direct tax collections for the current financial year 2013-14, up to September 17, 2013, stood at Rs. 2,38,325 crore as against Rs. 2,11,641 crore in the same period last year showing a growth of 12.5%. Corporate tax collections are Rs. 1,46,610 crore as against Rs. 1,35,791 crore collected to date last year; showing a growth of 7.97%. Similarly, Personal income tax collections are Rs. 89,006 crore as against Rs.65,752 crore collected to date last year which is a growth of 21.08%. The collection of Securities Transaction Tax (STT) and Wealth Tax stands at Rs. 2210 crore and Rs 309 crore, respectively.

Out of the above net collections, contribution by way of advance tax up to the September Quarter has been Rs 1,14,324 crore which is an overall growth of 9.14%. Advance tax collections from Corporates has been Rs 1,03,374 crore which is a growth of 7.97% as against previous year’s collection. This is better than the growth rate of 4.5% during the same period last year. Advance Tax collections under Personal Income tax head is Rs 10946 crore, showing a rise of 24%. ONGC, SBI, Reliance Industries Ltd, Life Insurance Corporation and HDFC Bank are the five top advance tax payers.

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