Net collections work out to 75 % of the revised target

Net direct tax collections grew 20.75 per cent to Rs.3,36,117 crore during April-February 2010-11 as compared to Rs.2,78,411 crore mopped up in the same period in the previous fiscal.

According to an official statement here, while corporate tax collections rose by 24.01 per cent to Rs.223,612 crore during the 11-month period from Rs.1,80,318 crore, the mop-up by way of personal income tax went up by 14.76 per cent to Rs.1,12,114 crore from Rs.97,692 crore collected during April-February 2009-10. In the personal tax segment, the revenue garnered by way of Securities Transaction Tax (STT) grew 1.72 per cent to Rs.6,078 crore.

The net direct tax collections pegged at Rs.3.36 lakh crore during the April-February period of 2010-11 works out to an achievement of 75.38 per cent of the revised estimates target of Rs.4,46,000 crore set for the entire fiscal year. In effect, the shortfall of Rs.1.10-lakh crore remains to be mopped up during March, the last month of the current fiscal, if the target is to be achieved.