Direct tax kitty marginally up by 3.92% upto Oct `09
November, 06th 2009
Net direct tax collections has registered marginal growth of 3.92% to stand at Rs 1,734.47 billion during the first seven months of the present fiscal (up to October 2009) as against Rs 1,669.05 billion in the same period last fiscal.
Lower growth in net collection was mainly on account of higher tax refund outgo of 63.95% at Rs 331.37 billion as against Rs 202.12 billion last fiscal.
Growth in corporate taxes was 4.59% (Rs 1,099.96 billion as against Rs 1,051.74 billion), while personal income tax grew at 2.87% (Rs 631.95 billion as against Rs 614.33 billion).
Net collections during the month of October 2009 continued to be positive at Rs 208.22 billion compared to Rs 197.08 billion during October, 2008.
Further during the month personal income tax growth was 16.1% (Rs 113.98 billion against Rs 98.17 billion last fiscal), whereas corporate tax recorded a negative growth of 4.72% (Rs 94.24 billion against Rs 98.91billion last fiscal).
Growth in securities transaction tax (STT) picked up at 3.79% during April - October 2009 (Rs 38.65 billion as against Rs 37.24 billion) compared to the corresponding period last fiscal.