Direct tax collections grew by around 4 per cent to Rs 87,888 crore in the first five months of this fiscal.
Direct tax collections like corporate and personal income tax, and STT during April-August were at Rs 87,888 crore, a rise of 4.12 per cent over the last year's collection during the same period, an official statement said here today.
Corporate tax collections during the period grew by a meagre 1.84 per cent to Rs 49,339 crore compared to Rs 48,450 crore a year ago, the statement said.
Collections under personal income tax, including securities transaction tax (STT), the residual Fringe Benefit Tax and remaining BCTT, grew by 7.40 per cent to Rs 38,491 crore from Rs 35,840 crore a year ago.
The government attributed the lower net direct tax collections to a higher refund outgo which the statement said had grown by about 52 per cent at Rs 24,639 crore against Rs 16,145 crore during the five-month period.