Direct tax collection up 3.9 percent

New Delhi, Nov 5 : Direct tax collection during the first seven months of the current fiscal grew 3.92 percent to Rupees 173,447 crore as compared to Rupees 166,905 crore in the like period last year.

Taxes paid by corporates rose 4.59 percent to Rs.109,996 crore, while personal income tax collection increased 2.87 percent to Rs.63,195 crore.

Securities Transaction Tax (STT) grew by 3.79 percent during April-October 2009 to Rs.3,865 crore.

"Lower growth in net collection was mainly on account of a 63.95 percent increase in tax refund at Rs.33,137 crore as against Rs.20,212 crore last fiscal," said a statement from the tax department.

In October, net direct tax collections were at Rs.20,822 crore.

October's personal income tax collections grew 16.1 percent to Rs.11,398 crore, while corporate tax inflow recorded a negative growth of 4.72 percent at Rs.9,424 crore.

--IANS