Direct tax collection rises 3.2 percent

By IANS,

New Delhi : India’s net direct tax collection rose 3.27 percent to Rs.73,990 crore ($16.7 billion) in the April-July period this fiscal as compared to Rs.71,648 crore in the like period last year.

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The finance ministry said in a statement that corporate taxes grew 2.61 percent to Rs.42,685 crore in April-July from Rs.41,598 crore a year ago.

Personal income tax rose to Rs.31,279 crore, up 4.33 percent from Rs.29,982 crore in April-July 2008.

Securities transaction tax (STT) recovered to grow by 3.55 percent during the period to Rs.2,240 crore as against Rs.2,164 crore in the year-ago period, the statement said.

“Net collections in July remained positive at Rs.14,525 crore as compared to Rs.14,275 crore in July 2008.”