RTTNews - The ministry of finance said India's net direct collections during April-July 2009 period were Rs.73,990 crore, up 3% from Rs.71,648 crore in the corresponding period last year.
Despite an improvement in corporate performance in the last few months, the same has not been reflecting in the tax collection. Corporate tax collection during the period were Rs.42,685 crore, compared with Rs.41,598 crore, reflecting a growth of 3%, while personal income tax collection (including STT, FBT and residual BCTT) grew 4% to Rs.31,279 crore from Rs.29,982 crore for the comparable period last year.
The Central Board of Direct Taxes aid the lower growth in net collection was mainly attributed to higher tax refund outgo of 53% at Rs.20.768 crore, compared to Rs.13,542 core last fiscal.
Net collections during July this year remained positive at Rs.14,525 crore, up marginally from Rs.14,275 crore during July 2008.
Securities Transaction Tax or STT during April-July 2009 period grew 4% to Rs.2,240 crore from Rs.2,164 crore in the corresponding period last fiscal, it added.
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