India's direct tax collections up 3.27 per cent in April-July
10 Aug 2009
India's net direct tax collections during first four months of the current fiscal (April-July 2009-10) stood at Rs73,990 crore, up 3.27 per cent from Rs71,648 crore in the same period last fiscal.
Corporate tax collections recorded a growth of 2.61 per cent, at Rs42,685 crore, as against Rs41,598 crore in the same period last fiscal while personal income tax (including STT, FBT and residual BCTT) grew 4.33 per cent to Rs31,279 crore against Rs29,982 crore in April-July 2008.
The lower growth in net collection has mainly been on account of higher tax refund outgo of Rs20,768 crore (53.36 per cent) as against Rs13,542 crore last fiscal.
Net collections during July 2009 remained positive at Rs14,525 crore compared with Rs14,275 crore in July 2008; while securities transaction tax (STT) recovered to grow 3.55 per cent during April-July 2009 (Rs2,240 crore as against Rs2,164 crore) compared to the corresponding period last fiscal.
