The share of Collection on Demand (CoD) in total income tax collection remained 13% during first half (July-December) of 2011-12 against 8.2% in the corresponding period of last year, says an FBR report issued here on Friday.
The report said that the gross and net collection of direct taxes during first half of 2011-12 has been Rs 371.4 billion and Rs 312.6 billion indicating a growth of 42.4% and 29.8%, respectively. The net collection is Rs 72 billion higher as compared to same period last fiscal year.
Although the share of CoD has reduced in total income tax collection but the growth in this segment during first half of 2011-12 has been 125.3%, thus indicating efforts of field formations to collect the revenue. The share of CoD, in total income tax collection remained 13% against 8.2% in corresponding period last year. Within the CoD, the share of current demand and arrear demand has been 91% and 9% during July-December, 2011-12. The collection from current demand reached Rs 43.1 billion in first half of 2011-12 against Rs 12.3 billion in same period last fiscal year, whereas under the head of arrear demand, Rs 4.1 billion were collected against Rs 8.6 billion during last fiscal year.
The report added that the Voluntary Payments (VPs) include payments with return and advances. An amount of Rs 114.1 billion has been generated under the head of voluntary payments during first half (July-December) of 2011-12 as compared to Rs 82.4 billion in the corresponding period last year.