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Aided by robust corporate tax collections, the Centre's net direct tax mop up grew 20.86 per cent to Rs 3.36 lakh crore during April-February 2011.
This collection level represents 75.34 per cent of the revised estimate of Rs 4.46 lakh crore set for direct taxes in 2011-12.
While corporate tax collections grew 24.44 per cent to Rs 2.24 lakh crore (Rs 1.80 lakh crore), the personal income tax collections (including STT and residual FBT/BCTT) grew 14.29 per cent to Rs 1.12 lakh crore (Rs 0.98 lakh crore).
For the 11-month period April-February 2011, the Securities transaction tax collections grew 1.72 per cent to Rs 6,078 crore (Rs 5,975 crore).
In February 2011, the Centre's corporate tax collections stood at Rs 6,740 crore, reflecting an increase of 3.4 per cent over Rs 6,519 crore collected in same month last year. Personal income tax collections (including STT and residual FBT/BCTT) grew 46.63 per cent in February 2011 to Rs 11,923 crore (Rs 8,131 crore).
The Centre had in Budget 2010-11 pegged the direct tax collections target at Rs 4.3 lakh crore.
With the economy expected to record a strong growth of 8.6 per cent in current fiscal, the Finance Minister had recently revised the direct tax collection target for 2010-11 to Rs 4.46 lakh crore.
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