By our Special Correspondent
New Delhi, Aug 13 (IVC) The country’s net direct tax collections’ growth accelerated to 22.5 per cent by August 11, from 19.54 per cent a month ago, led by a 30 per cent spike in Personal Income Tax (PIT) revenues and a 11 per cent surge in Securities Transaction (STT) receipts, even as corporate tax inflows grew a mere 5.9 per cent.
Data from the Central Board of Direct Taxes showed that gross tax collections rose 24 per cent by Aug 12, to Rs 8.13 lakh crore, while refunds to taxpayers rose 33.5 per cent to a tad over Re 1.2 lakh crore.
Net revenues from direct taxes stood at almost Re 6.93 lakh crore, compared with Re 5.66 lakh crore in the year ago.
Personal income tax receipts so far this year now account for 64.55 per cent of net tax receipts. A rise of about 60.2 per cent from a month ago and 60.8 per cent by the same time last year. Corporate taxes’ share has dropped to 32.1 per cent from 36.6 per cent on July 11 and 37,1 per cent as of August 11, last year.
