| Net Direct Tax Collections During April-August 2012-13 up by 28.15 per cent and Stood at Rs.1,23,969 Crore as against RS. 96,738 Crore in the Same Period Last Year |
| Gross Direct Tax collections during April-August of the F.Y. 2012-13 was up by 6.51 per cent at Rs. 1,64,413 crore as against Rs. 1,54,361 crore in the same period last year. While gross collection of Corporate Taxes showed an increase of 0.15 per cent and stood at Rs.96,738 crore during the same period as against Rs. 96,597 crore last year. Gross collection of Personal Income tax was up by 17.09 per cent at Rs.67,420 crore as against Rs. 57.582 crore in the same period last year. Net Direct Tax Collections was up by 28.15 per cent and stood at Rs. 1,23,969 crore, as compared to Rs. 96,738 crore in the same period in the last fiscal. Growth in Wealth Tax was 40.63 per cent and stood at Rs.225 crore as against Rs. 160 crore in the same period last year. Growth in Securities Transaction Tax (STT) was (-) 14.94 per cent at Rs.1719 crore as against Rs.2021 crore during the same period last year. |
Monday, September 10, 2012
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Growth in Wealth Tax was 40.63 per cent - does that mean more indians are getting wealthy or more wealthy people are now reporting their assessts? Does wealth tax include the wealth stashed away in exotic foreign destinations by Indian residents? Is there any mechanism to make people report foreign assessts and pay taxes on them? I am curious, do people also have to declare how much cash they have?
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