Net direct tax up 71% in Apr-May

Net direct tax collections grew 71% to Rs 13,335 crore in the first two months of this fiscal compared to Rs 7,779 crore in the same period last fiscal.

Net corporation tax collection was at Rs 4,835 crore during April-May compared to Rs 466 crore in the year ago period. The tax collected last year was much lower due to higher refunds.

Net personal income tax mobilisation was 16% higher at Rs 8,493 crore in April-May as against Rs 7,308 crore in the corresponding period in FY07.

Gross direct tax collections were, however, marginally down at Rs 18,372 crore during the period under review compared to Rs 18,615 crore a year
ago.