Tax collection soars in the first half of this fiscal year

Gross direct tax collection during the first half of the current fiscal (April-September 2011) was up by 23 percent at Rs 257,042 crore as against Rs 208,971 crore in the same period last fiscal. While gross collection of corporate taxes was up 23.17 percent (Rs.175,360 crore against Rs 142,368 crore last year), gross collection of personal income tax was up by 22.65 percent (Rs 81,353 crore against Rs 66,330 crore last year). Net direct tax collections stood at Rs 194,812 crore, up from Rs 181,758 crore in the same period last fiscal.

The growth of gross direct taxes for the first half during the last fiscal (2010-11) was 15.51 percent, i.e. Rs 208,971 crore against Rs 180,906 crore. Gross collection of corporate taxes was up 16.99 percent (Rs 142,368 crore against Rs 121,695 crore in FY 2009-10), gross collection of personal income tax was up by 12.47 percent (Rs 66,330 crore against Rs 58,974 crore in FY 2009-10). Net direct tax collection was up 19.09 percent from Rs 152,625 crore in FY 2009-10.

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Taniya | Associate

eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 12 years.

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