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Net direct levy mop-up rises 9.93%
December, 16th 2011

On the back of third instalment of advance tax payment due on December 15, net direct tax collection till December 14 in the financial year showing a growth of 9.93 per cent stood at Rs 2,52,850 crore as against Rs 2,30,000 crore realised during April-December 14 last year.

Gross direct tax collection during April-December 14 has been Rs 3,23,400 crore against Rs 2,75,400 crore mopped up in the same period last year. Refunds during the period was Rs 70,500 crore.

A senior finance ministry official said that advance tax payments will flow in even after the December 15 deadline and a better picture will emerge around December 18.
Front-loading of refunds this year had impacted the net collection in a major way, he said. Budget estimate for direct tax collection in the financial year is Rs 5,32,651 crore, targeting a growth of 19 per cent over last years collection of Rs 4,46,070 crore.

Net direct tax realisation growth during April-December 1 had been 8.8 per cent as against 7.1 per cent increase witnessed till October. While gross direct tax mop-up till December 1 in 2011-12 was Rs 3,03,650 crore, net collections during the period had been Rs 2,34,729 crore after refunds worth Rs 68,918 crore. Net direct tax realisation during April-December 1 in 2010-11 was Rs 2,15,659 crore.

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