Hefty refunds pulled down net direct tax collections by 8.14% to Rs 78,679 crore during the April-July period of this fiscal.
Net direct tax collections stood at Rs 85,647 crore in the year-ago period.
Tax refunds rose a robust 183.18% to Rs 53,863 crore during the April-July period of 2011-12, pulling down net direct tax collections.
However, gross direct tax collections during the four-month period were up by 26.63% at Rs 1,32,542 crore as against Rs 1,04,668 crore a year-ago.
Besides, belying fears of an economic slowdown, gross collection of corporate taxes surged 29.56% at Rs 85,222 crore against Rs 65,776 crore in the corresponding period last year.
Gross collection of personal income tax was up by 21.64% at Rs 47,214 crore from Rs 38,816 crore last year.
The growth in wealth tax collection was up by 38.67% during the April-July this fiscal at Rs 104 crore.
