The net direct tax collection in November stood at Rs 19,863 crore, while the net direct tax collection has shown a growth of 15.04% to Rs 2,70,731 crore during April-November period of the current fiscal in which 60% tax revenue come from the corporate sector. Though, the growth in direct tax collection was slow in first half of the current fiscal but the government expects it to pick up in the second half of 2012-13.
According to a Finance Ministry, net corporate tax collection stood at Rs 1,62,897 crore during April-November, 2012.The personal tax mop-up stood at Rs 1,07,215 crore and wealth tax collection was at Rs 619 crore during the same period. Despite slowdown in the economic activities, the government has expressed confidence in meeting direct tax target of Rs 5.70 lakh crore for FY13 which include income tax, corporate tax and wealth tax. In the 2011-12 fiscal, the government has collected taxes of over Rs 4.93 lakh crore as per provisional estimates, against a budgeted target of Rs 5.32 trillion.
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