Gross direct tax collections up 26.63 % in April-July
12 Aug 2011
Gross direct tax collections rose by 26.63 per cent at Rs1,32,542 crore during April-July 2011.
Gross direct tax collections during the first four months of the current financial year were up by 26.63 per cent and stood at Rs1,32,542 crore, from Rs1,04,668 crore during the same period in last finacial year.
Gross collection of corporate taxes rose by by 29.56 per cent to Rs85,222 crore as against Rs65,776 crore during the same period last year while gross collections of personal income tax rose by 21.64 per cent during this period and stood at Rs47,214 crore, up from Rs.38,816 crore in the same quarter last year.
However, net collections during this period stood at Rs78,679 crore, down from Rs85,647 crore in the same period during the last fiscal on account of an increase of 183.18 per cent in tax refunds.
Tax refunds during this period stood at Rs5,863 crore.
Growth in wealth tax was 38.67 per cent and collections stood at Rs104 crore during the first four months of current fiscal as against Rs75 crore in last fiscal.
On the other hand, collections of securities transaction tax fell 5.87 per cent during this period, falling to Rs1,555 crore from Rs.1,652 crore during the same period last financial year.
