Net direct tax collections during the period April-February 2011 stood at Rs.3,36,177 crore, up from Rs.2,78,411 crore in the same period during last fiscal, The collections thereby registered a growth of 20.75 percent.

Growth in Corporate Income Tax during this period was 24.01 percent (Rs.2,23,612 crore as against Rs.1,80,318 crore), while Personal Income Tax (including STT, and residual FBT / BCTT) grew at 14.76 percent (Rs.1,12,114 crore as against Rs.97,692 crore). Growth of Securities Transaction Tax was 1.72 percent (Rs.6,078 crore as against Rs.5,975 crore).

The net direct tax collections have achieved 75.38 percent of the revised estimates (RE) target of Rs.4,46,000 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.

Net Direct Tax Collections rise, achieving a substantial share of the revised target in the fiscal period despite higher refunds. Net direct tax collections rose substantially during April-February, achieving 75.38 percent of the revised estimates target. Corporate Income Tax showed the highest growth, Personal Income Tax (including STT and residual FBT/BCTT) grew at a lower rate, and Securities Transaction Tax posted modest growth. These gains were recorded despite a notable increase in tax refunds in the period, which tempered net inflows.