Net direct tax collection jumped by 47% in the first quarter of this fiscal to Rs.84,273 crore, mainly on account of the slower disbursal of tax refunds compared to the same period a year ago. Gross direct tax receipts stood at Rs 1,11,182 crore, showing a 6.8% jump from the same period a year ago. Gross collection of corporate taxes rose 3.48% to Rs. 70,594 crore in the April-June quarter, while gross personal income tax receipts rose 13% to Rs.40,520 crore in the period under review.
The government also collected Rs 32 crore wealth tax in the first quarter, which showed a 3% decline from the amount received in the same time a year ago. The authorities also collected Securities Transaction Tax of Rs.952 crore in the period, which was marginally lower than the receipts in the same period a year ago.