Direct tax collection up nearly 4 per cent in April-October
05 Nov 2009
Net direct tax collection of the government rose 3.92 per cent during the first seven months of the current fiscal (April-October 2009-10) and stood at Rs1,73,447 crore compared with Rs1,66,905 crore in the same period last fiscal.
Corporate tax collections grew 4.59 per cent to Rs1,09,996 crore against Rs1,05,174 crore in April-October of the previous fiscal while personal income tax grew 2.87 per cent to Rs63,195 crore from Rs61,433 crore.
The lower growth in net tax collection was mainly on account of higher tax refund outgo of 63.95 per cent at Rs33,137 crore as against Rs20,212 crore last fiscal, an official release said.
Net collections during October 2009 rose to Rs20,822 crore from Rs19,708 crore during October 2008. During the month, personal income tax grew 16.1 per cent to Rs11,398 crore from Rs9,817 crore in the same month last fiscal, whereas corporate tax recorded a negative growth of 4.72 per cent (Rs9,424 crore against Rs9,891 crore last fiscal).
Securities transaction tax collections were up 3.79 per cent during April-October 2009 at Rs3,865 crore against Rs3,724 crore in the corresponding period last fiscal.
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