Net direct tax collection down 8.14%

Net direct tax collections stood at Rs 85,647 crore in the year-ago period. Tax refunds rose a robust 183.18 per cent during the April-July period of 2011-12, pulling down net direct tax collections.

However, gross direct tax collections during the four- month period were up by 26.63 per cent at Rs 1,32,542 crore as against Rs 1,04,668 crore a year-ago. Gross collection of personal income tax was up by 21.64 per cent at Rs 47,214 crore from Rs 38,816 crore last year.