Direct tax collection in Q1 up 24 percent
July 7th, 2011 - 10:59 pm ICT by IANSNew Delhi, July 7 (IANS) The country’s direct tax collection has increased almost 24 percent in the first quarter of the current fiscal year and stood at Rs.104,136 crore as compared to Rs.84,041 crore in the like period of last fiscal, official data showed Thursday.
According to the figures released by the finance ministry, the corporate tax collection also grew at a brisk 23.49 percent and stood at Rs.68,223 crore as against Rs.55,244 crore in the same period last year.
“Gross collection of personal income tax was up by 24.63 percent which rose to Rs.35,859 crore as against Rs.28,772 crore during the same period last year,” said the ministry statement.
However, the net tax collections were down 16.61 percent at Rs.57,268 crore, from Rs.68,675 crore in the same period in last fiscal, due to an exponential increase in tax refunds.
“This was on account of an increase of 205.01 percent in tax refunds, which stood at Rs.46,868 crore as against Rs.15,366 crore in the same period during the last fiscal,” the statement added.
- Gross direct tax collection up 26 percent - Sep 08, 2011
- Net direct tax collection up 15.49 percent in Q1 - Jul 06, 2010
- Direct tax collections up 27 percent in April-July - Aug 12, 2011
- Direct tax collections rise 14.6 percent in April-January - Feb 08, 2012
- Direct tax mop-up jumps 21 percent - Mar 09, 2011
- Bengal commercial tax collection up - Feb 16, 2012
- Direct tax collection up 18 pc in April-November - Dec 07, 2010
- Government hopes to meet indirect tax collection target - Feb 08, 2012
- GAIL's third quarter net profit up 12.52 percent - Jan 18, 2011
- Direct tax revenue up 18 percent to Rs.2,04,351 crore - Nov 04, 2010
- Delhi sees 23 percent increase in tax collection - Jan 18, 2012
- Direct tax mop-up jumps 19 percent, beats target - Oct 19, 2010
- Chhattisgarh's commercial taxes collection up 22 percent - Jan 17, 2012
- Indirect tax collections up 42 percent in eight months - Dec 15, 2010
- Direct tax collections increase 3.27% - Aug 10, 2009
Tags: crore, current fiscal year, exponential increase, finance ministry, first quarter, ministry statement, New Delhi, personal income tax, q1, tax collections, tax refunds