Circular No. 402/92/2006-MC (28 of 2011)

Gross direct tax collections during April - October, 2011

What this is

Circular No. 402/92/2006-MC (28 of 2011) was issued by the Central Board of Direct Taxes on 4 November 2011. Its subject is Gross direct tax collections during April - October, 2011.

What it does

Reports direct tax collections for April to October 2011. Gross direct tax collection was 2,84,081 crore rupees against 2,36,176 crore rupees in the same period of the previous year, a rise of 20.28 per cent. Gross corporate tax was 1,89,872 crore rupees against 1,57,767 crore rupees, up 20.35 per cent, and gross personal income-tax was 93,769 crore rupees against 78,029 crore rupees, up 20.17 per cent, while net direct tax collection was 2,18,850 crore rupees against 2,04,347 crore rupees, a growth of 7.10 per cent. Wealth tax grew 10.6 per cent to 418 crore rupees from 378 crore rupees, and securities transaction tax fell 17.9 per cent to 2,958 crore rupees from 3,602 crore rupees.

Why it was issued

It is a routine periodic statement of collection figures; the text gives no other reason.

Who it reaches

Readers tracking direct tax collection trends for financial year 2011-12
Officers reporting collection figures for the period April to October 2011

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Gross direct tax collections during April - October, 2011
Press Release No. 402/92/2006-MC (28 of 2011), dated 4-11-2011
Gross direct tax collection during April-October of the current fiscal was up by 20.28 per cent at Rs. 284,081 crore as against Rs. 236,176 crore in the same period last fiscal. While gross collection of corporate taxes was up 20.35 per cent (Rs. 189,872 crore against Rs. 157,767 crore last year), gross collection of personal income-tax was up by 20.17 per cent (Rs. 93,769 crore against Rs. 78,029 crore last year). Net direct tax collections stood at Rs. 218,850 crore, up from Rs. 204,347 crore in the same period last fiscal, registering a growth of 7.10 per cent.
Growth in wealth tax was 10.6 per cent (Rs. 418 crore against Rs. 378 crore) while for securities transaction tax (STT) it was -17.9 per cent (Rs. 2,958 crore against Rs. 3,602 crore).
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What to watch

This is a departmental press release of collection statistics; it is not Board authority and decides no question of tax.
It states no provision, rate, form or date of compliance.
The gap between gross and net growth reflects refunds issued in the period, which the release does not quantify.

Where you meet it

You do not meet it in a proceeding; it is background material on collection trends for the financial year 2011-12.

← Circular No. 402/92/2006-MC (32 of 2011) · Circular No. 8/2011 →

A circular binds the department, not you and not a court. The Board issues a circular to its own officers. An assessee may hold the department to a circular that helps him; the department cannot hold an assessee to one that hurts him, and the Tribunal and the courts decide the law for themselves.

Source: the Income Tax Department’s own published text — its page for this instrument.