Net direct tax collections have risen only by 7.09 per cent to Rs.2.69 lakh crore in the first six months of the current fiscal from Rs.2.51 lakh crore in the same period in the previous year, the Finance Ministry said in a statement.
Gross direct tax collections were, however, up 15 per cent at Rs.3.46 lakh crore during the April-September period of 2014-15 fiscal, as against Rs.3.01 lakh crore a year-ago, the statement added.
The government has fixed the direct tax collections target of over Rs.7.36 lakh crore for 2014-15, which is 15 per cent higher than the last fiscal’s revised estimates.
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Gross collections of corporate taxes increased by 15.31 per cent to Rs.2.22 lakh crore during April-September from Rs.1.93 lakh crore in the year-ago period, the statement said.
Gross collections of personal income tax, including STT and wealth tax, were up by 14.37 per cent at Rs.1.24 lakh crore in the first six months of the current fiscal, from Rs.1.08 lakh crore in the year-ago period.
Advance tax collections have shown a growth of 15.28 per cent during the first half of the year as against the growth of 7.66 per cent shown at the same time previous year, the statement said.
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Growth in tax deduction at source (TDS) is 9.47 per cent in April-September of 2014-15 as against 14.22 per cent in the same period last year.