Gross direct tax collection up 26 percent

However, net collection of direct taxes during April-August period declined to Rs.96,738 crore, from Rs.100,113 crore during the same period last year.

Net collection has declined due to 156.04 percent increase in tax refunds, which stood at Rs.57,622 crore in the period under review as against Rs.22,505 crore during the corresponding period last fiscal, according to data released by the ministry of finance.

Gross collection of corporate taxes rose by 29.72 percent to Rs.96,597 crore, while the collection from personal income tax increased by 19.91 percent at Rs.57,582 crore.
Collection from wealth tax increased by 22.14 percent at Rs.160 crore. However, the collection from securities transaction tax declined by 9.09 percent at Rs.2,021 crore.