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Indian Govt Releases Latest Tax Figures

by Mary Swire, Tax-News.com, Hong Kong

08 November 2013


Indian gross direct tax collections for April-October were up 11.58 percent on the same period in 2012.

At end-October, the total gross total collected stood at INR3.38 trillion (USD54.03bn). Corporate tax in particular performed well. INR2.10 trillion was brought in, a figure up 8.23 percent on the INR1.94 trillion collected between April and October, 2012. Personal income tax collections increased by 17.89 percent year-on-year, reaching INR1.25 trillion.

In net terms, collections improved by 13.33 percent, rising from INR2.51 trillion to INR2.84 trillion.

The securities transaction tax generated INR26.45bn, a growth of 5.67 percent. A 5.86 percent rise in wealth tax collection also took place.

TAGS: Wealth | tax | India | corporation tax | ministry of finance | tax authority | revenue statistics | individual income tax

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