Net direct tax realisation up 12.5% to Rs 2.38 lakh crore

NEW DELHI: Net direct tax collection rose 12.5 per cent to Rs 2.38 lakh crore in first six months of the ongoing fiscal mainly on account of growth in personal income tax collection.

The net direct tax collection between April 1 to September 17 in the previous fiscal was Rs 2.11 lakh crore.

The Advance Tax collection in the September quarter grew by 9.14 per cent to over Rs 1.14 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 grwoth of 7.97 per cent.

Personal income tax realisation increased by 21.08 per cent to Rs 89,006 crore.

Besides, collection of Securities Transaction Tax (STT) and Wealth Tax stood at Rs 2,210 crore and Rs 309 crore respectively.

In case of Advance Tax for the September quarter, corporate sector contributed Rs 1.03 lakh crore, up 7.97 per cent as compared to an increase of 4.5 per cent during the same period last year.

The top payers of Advance Tax during the quarter was ONGC, SBI, Reliance Industries, Life Insurance Corporation and HDFC Bank.