Net direct tax collection rose 12.5 per cent to Rs 2.38 lakh crore in first six
months of the ongoing financial year mainly on account of growth in
personal income tax collection.
The net direct tax collection between April 1 and September 17 in the previous financial year was Rs 2.1 lakh crore.
The advance tax collection in the September quarter grew by 9.1 per cent to Rs 1.1 lakh crore, an official statement said.
As regards the direct tax collection, corporate tax contributed Rs 1.46 lakh crore during the period, showing a growth of eight per cent. Personal income tax realisation increased by 21.08 per cent to Rs 89,006 crore. Besides, collection of Securities Transaction Taxand Wealth Tax stood at Rs 2,210 crore and Rs 309 crore, respectively.
In the case of advance tax for the September quarter, corporate sector contributed Rs 1.03 lakh crore, up eight per cent as compared to an increase of 4.5 per cent during the corresponding period last year.
The top payers of Advance Tax during the quarter was ONGC, SBI, Reliance Industries, Life Insurance Corporation and HDFC Bank.
months of the ongoing financial year mainly on account of growth in
The net direct tax collection between April 1 and September 17 in the previous financial year was Rs 2.1 lakh crore.
The advance tax collection in the September quarter grew by 9.1 per cent to Rs 1.1 lakh crore, an official statement said.
As regards the direct tax collection, corporate tax contributed Rs 1.46 lakh crore during the period, showing a growth of eight per cent. Personal income tax realisation increased by 21.08 per cent to Rs 89,006 crore. Besides, collection of Securities Transaction Taxand Wealth Tax stood at Rs 2,210 crore and Rs 309 crore, respectively.
In the case of advance tax for the September quarter, corporate sector contributed Rs 1.03 lakh crore, up eight per cent as compared to an increase of 4.5 per cent during the corresponding period last year.
The top payers of Advance Tax during the quarter was ONGC, SBI, Reliance Industries, Life Insurance Corporation and HDFC Bank.
This Article is written by CMA Samir Biswal. He can be
reached at cmasamirbiswal@gmail.com
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