Direct tax mop-up jumps 21 percent

March 9th, 2011 - 9:31 pm ICT by IANS  

New Delhi, March 9 (IANS) Revenue from direct taxes increased 20.75 percent to Rs.336,177 crore in the first eleven months of the current fiscal, according to official data released Wednesday.

Collections from corporate income tax grew 24.01 percent to Rs.223,612 crore during April-February period, the ministry of finance said in a statement.

While mop-up from personal income tax grew 14.76 percent to Rs.112,114 crore, revenue from Securities Transaction Tax increased 1.72 percent to Rs.6,078 crore.

The net direct tax collections so far is 75.38 percent of the revised estimates target of Rs.446,000 crore.

“This is despite much higher refunds at Rs.59,602 crore during this period as against Rs.41,741 crore in the same period during the last fiscal and thus registering an increase of 42.79 percent,” the statement said.

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