2010.07.0702:49:00UTC+00Net Direct Tax Collection Up By 15% In Q1

India's net direct tax kitty for the first quarter of the current fiscal swelled by 15.49% to Rs.68,675 crore, up from the Rs.59,465 crore in the year-ago quarter. Collection in Corporate Taxes grew by 21.65% to Rs.43,439 crore as against the Rs.35,709 crore in the same quarter last year. That of Personal Income Tax that includes STT, BCTT and residual FBT, was up by 1.24% at Rs.24,075 crore from the earlier Rs.23,780 crore.

The collection of corporate advance tax for the first quarter soared by 31.4% to Rs.26,876 crore compared to the Rs.20,456 crore in the corresponding quarter last year. It was the fastest growth that the country witnessed since 2005.

However, collection under Securities Transaction Tax (STT) was down by 25.21% in the first quarter at Rs.1,094 crore from the Rs.1,462 crore in the same period last year.

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