Direct tax collections rises in Apr-Jan FY’15 by 11.38%

Direct tax col­lec­tions rose by 11.38 per cent to Rs 5.78 lakh crore dur­ing the April-Jan­u­ary peri­od of cur­rent finan­cial year.  The gov­ern­ment had col­lect­ed Rs 5.19 lakh crore in direct tax­es dur­ing the April-Jan­u­ary peri­od of last fiscal.

As per the Bud­get 2014–15, the rev­enue from direct tax is tar­get­ed at Rs 7.36 lakh crore for cur­rent fis­cal, a growth rate of 16 per cent over pre­vi­ous fis­cal. Dur­ing the ten-month peri­od, cor­po­rate tax col­lec­tions rose 11.04 per cent at Rs 3.64 lakh crore as against Rs 3.28 lakh crore dur­ing the same peri­od last fis­cal. The per­son­al income tax col­lec­tions rose 11.32 per cent at Rs 2.07 lakh crore in April-Jan­u­ary as against Rs 1.86 lakh crore in the same peri­od last year. The Secu­ri­ties Trans­ac­tion Tax (STT) col­lec­tions surged by 44.12 per cent at Rs 5,556 crore in the said peri­od due to buoy­an­cy in the stock market.