Encouraging First Quarter Figures of Direct Tax Collections

Sourabh Sharma (CS CA (Final) M.com NCFM Derivative Capital Market Mutual Funds)   (771 Points)

27 July 2009  


Encouraging First Quarter Figures of Direct Tax Collections (up to June 2009)

Net direct tax collections during first three months of the present fiscal (up to June 2009) stood at Rs.59,465 crore, up from Rs.57,373 crore in the same period last fiscal, registering a growth of 3.65 percent. Growth in Corporate Taxes was 3.31 percent (Rs.35,709 crore as against Rs.34,566 crore), while Personal Income Tax (including FBT and STT) grew at 4.38 percent (Rs.24,564 crore as against Rs.22,782 crore). Lower growth in net tax collection was mainly on account of higher tax refund outgo of 52.01 percent at Rs.17,600 crore in the present quarter as against Rs.11,578 crore in the first quarter last fiscal.