Press Information Bureau

Government of India

Ministry of Finance

07-July-2011 18:13 IST

Gross Direct Tax Collections during the First Quarter of Current Fiscal (April-June,2011) up by 23.91 percent ; Rise to Rs.1,04,136 Crore as against Rs 84,041 Crore during the Same Period in Last Fiscal

Gross direct tax collections during the first quarter of the current fiscal (April - June 2011) were up by 23.91 percent . Gross direct tax collections rose to Rs.1,04,136 crore as against Rs.84,041 crore during the same period last year. Gross collection of Corporate Taxes was up by 23.49 percent and stood at Rs.68,223 crore 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.

Net tax collections, however, stood at Rs.57,268 crore, down from Rs.68,675 crore in the same period in last fiscal. 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.

DSM/GN

Direct tax collections rise notably in early fiscal quarter while net receipts fall due to surge in refunds. Gross direct tax collections for the first fiscal quarter rose by 23.91 percent driven by increases in corporate tax (up 23.49 percent) and personal income tax (up 24.63 percent). However, net tax collections declined because tax refunds surged by 205.01 percent, substantially reducing net receipts for the period.