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Net direct tax collection up 15.49 percent in Q1

New Delhi, July 6 (IANS) The net direct tax collections for the first quarter of 2010 saw an increase of 15.49 percent as compared to the same period last fiscal, an official statement said Tuesday.

The NDT stood at Rs.68,675 crore (up to June 2010), from Rs.59,465 crore in the same period last fiscal. Growth in corporate taxes collection was also registered at 21.65 percent in the same period. It stood at Rs.43,439 crore as against Rs.35,709 crore during the same period last year, the finance ministry said.

Personal income tax grew at 1.24 percent in the first quarter to Rs.24,075 crore as against Rs.23,780 crore.

Corporate advance tax also grew at 31.4 percent, fastest since 2005, at Rs.26,876 crore as against Rs.20,456 crore in financial year 2009-10.

Securities transaction tax, however, recorded a negative growth at 25.21 percent during the first quarter at Rs.1,094 crore as against Rs.1,462 crore in the last financial year.

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