Direct tax collection rises 3.2%

The finance ministry said in a statement that corporate taxes grew 2.61 per cent to Rs 42,685 crore in April-July from Rs 41,598 crore a year ago. Personal income tax rose to Rs 31,279 crore, up 4.33 per cent from Rs 29,982 crore in April-July 2008. Securities transaction tax (STT) recovered to grow by 3.55 percent during the period to Rs 2,240 crore as against Rs 2,164 crore in the year-ago period, the statement said. “Net collections in July remained positive at Rs 14,525 crore as compared to Rs 14,275 crore in July 2008.”