Direct Tax Collection grows over 16.5%
Delhi : The Finance Ministry on Thursday announced that the direct tax collection has reached Rs.5.47 lakh crore during the first six months of the current fiscal. This is 16.7 per cent higher than corresponding period of previous fiscal. Direct tax comprises of Personal Income Tax (PIT), Corporate Income Tax (CIT) and Securities Transaction Tax (STT).
Corporate advance tax growth rate doubles
Delhi : Direct tax collection net of refunds for the April-September period grew by 14% to Rs 4.44 lakh crore, marginally below the growth rate of 14.4% required to achieve the Budget estimate of Rs 11.50 lakh crore for the current fiscal, the government said on Thursday. The tax department collected Rs 2.10 lakh crore as advance tax, which is 18.7% higher compared with the corresponding period a year ago.
