Direct tax collections register growth of 3.71% till November
Net direct tax collections during first eight months of the present fiscal (up to November 2009) stood at Rs.1,83,822 crore, up from Rs.1,77,251 crore in the same period last fiscal, registering a growth of 3.71 percent. Growth in Corporate Taxes was 3.17 percent (Rs.1,13,210 crore as against Rs.1,09,735 crore), while Personal Income Tax (including STT, and residual FBT and BCTT) grew at 4.53 percent (Rs.70,262 crore as against Rs.67,215 crore).
During the month of November 2009, net direct tax collections was Rs.10,375 crore compared to Rs.10,346 crore during November 2008. While PIT growth was 23.8 percent (Rs.7,161 crore against Rs.5,785 crore last fiscal), Corporate Tax recorded a negative growth of 29.5 percent (Rs.3,214 crore against Rs.4,561 crore last fiscal).
Growth in Securities Transaction Tax (STT) stood at 4.44 percent during April-November 2009 (Rs.4,349 crore as against Rs.4,165 crore) compared to the corresponding period last fiscal.