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Direct tax collection up 3.9 per cent
November, 05th 2009

Direct tax collection during the first seven months of the current fiscal grew 3.92 per cent to Rs.173,447 crore as compared to Rs.166,905 crore in the like period last year.

Taxes paid by corporates rose 4.59 per cent to Rs.109,996 crore, while personal income tax collection increased 2.87 per cent to Rs.63,195 crore.

Securities Transaction Tax (STT) grew by 3.79 per cent during April-October 2009 to Rs.3,865 crore.

"Lower growth in net collection was mainly on account of a 63.95 per cent increase in tax refund at Rs.33,137 crore as against Rs.20,212 crore last fiscal," said a statement from the tax department.

In October, net direct tax collections were at Rs.20,822 crore.

October's personal income tax collections grew 16.1 per cent to Rs.11,398 crore, while corporate tax inflow recorded a negative growth of 4.72 per cent at Rs.9,424 crore.

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