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8 pct growth in direct tax collections
January, 07th 2010

It is reported that net direct tax collections during first three quarters of the present fiscal up to December 2009 stood at INR 250,232 crore, up from INR 230,598 crore in the same period last fiscal, registering a growth of 8.51%.

Growth in Corporate Taxes was 13.47% to INR 166,503 crore as against INR 146,737 crore while Personal Income Tax grew at 0.41%to INR 83,178 crore as against INR 83,524 crore.

During the month of December 2009, net direct tax collections was INR 66,410 crore as compared to INR 53,347 crore during December 2008. While Corporate Tax recorded a growth of 44.03%, PIT growth was -19.75%.

Negative growth in PIT was largely on account of higher PIT refunds at INR 8,954 crore as against INR 5,979 crore, a growth of 49.76 percent compared to the same period last fiscal.

Growth in Securities Transaction Tax stood at 2.33% during April-December 2009 (INR 4,570 crore as against INR 4,466 crore), while wealth tax grew by 24.39% (INR 381 crore as against INR 306 crore) compared to the corresponding period last fiscal.

 

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