On the back of a buoyant 44% growth in advance tax collections, the Centre?s direct tax kitty grew 8.51% to Rs 2,50,232 crore in the first three quarters of 2009-10. In contrast between April and December 2008, net direct tax collections amounted to Rs 2,30,598 crore.
Meanwhile, in December 2009, net direct tax collections registered a even higher growth of 24.5% to Rs 66,410 crore compared with Rs 53,347 crore a year ago.
Between April and December 2009, corporate income tax receipts grew by 13.47% to Rs 1,66,503 crore as against Rs 1,46,737 crore a year ago, as per data released by the Central Board of Direct Taxes (CBDT) on Tuesday. Indicating an upswing in economic activities, in December 2009, corporate income tax collections rose 44% at Rs 53,293 crore compared to December last year.
However, personal income tax collections were not as robust and in fact dipped by 0.41% to Rs 83,178 crore between April and December 2009 as against Rs 83,524 crore in the corresponding period a year ago. The decline in the personal income tax kitty was even sharper in December 2009. Its receipts dipped by 19.75% to Rs 13,117 crore against Rs 16,345 crore last fiscal.
On the dip in personal income tax, the CBDT said, ?Negative growth in income tax collections was largely on account of higher refunds at Rs 8,954 crore against Rs 5,979 crore, a growth of 49.76%.?
Meanwhile, securities transaction tax?tax on transaction on the bourses?was marginally up at 2.33% during April-December this fiscal. Wealth tax also grew by 24.39% to Rs 381 crore against Rs 306 crore in the same period last fiscal.
