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Govt direct tax mop-up rises
July, 22nd 2009

A high base effect and refunds have pulled down net direct tax collection growth to 3.65 per cent to Rs 59,465 crore during the first quarter of the current fiscal over April-June 2008-09.

The Direct tax collection, comprising corporate and personal income tax, stood at Rs 57,373 crore during the April-June period last year.

Tax payers received Rs 17,600 crore, representing 52.01 per cent growth over Rs 11,578 crore given in the first three months of last fiscal.

"Lower growth in net tax collection was mainly on account of higher tax refund outgo," an official statement here said.

Corporate tax collected during the period was also 3.31 per cent higher at Rs 35,709 crore as compared to Rs 34,566 crore against the corresponding period last year.

Besides, in the personal income tax segment, which includes Fringe Benefit Tax and Securities Transaction Tax, the government collected Rs 24,564 crore, higher by 4.38 per cent compared to last year.

Analysts said tax collections only grew marginally on account of a high base effect, which means tax mop-up was high during the same period last fiscal.

The KPMG Executive Director Vikas Vasal said, "Last year first quarter was a better quarter so even if we compare on a quarter-to-quarter basis, this figure is reasonably well."

 
 
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