Gross direct tax collection grew by over 14 per cent in the first five months (April-August) of this fiscal.
Direct taxes include personal income tax, corporate tax, securities transaction tax and wealth tax.
Gross direct tax collections rose to Rs 1.88 lakh crore against Rs 1.64 lakh crore in the same period last year.
The Government has fixed a direct tax collection target of over Rs 6.68 lakh crore for the current fiscal, a growth of 19 per cent from Rs 5.65 lakh crore in the previous fiscal.
While corporate tax collection has grown by just about 12 per cent in view of the slowdown in economic activity, personal income tax has seen a jump of about 19 per cent. Gross collection of corporate taxes increased 11.72 per cent to Rs 1.08 crore from Rs 96,738 crore, the Ministry said in a statement on Thursday.
Gross collection of personal income tax was up by 18.91 per cent to Rs 78,187 crore in the first five months of this fiscal, from Rs 65,752 crore in the year ago period. Net direct tax collections rose 15.42 per cent to Rs 1,43,138 crore during April-August (Rs 1,24,019 crore), according to the statement.
Securities transaction tax or STT mop-up stands at Rs 1,649 crore, while wealth tax collection posted a growth of 24.44 per cent to Rs 280 crore (Rs 225 crore).
shishir.s@thehindu.co.in