Direct tax collections up 21% in April-February

Net direct tax collections grew by 20.75 per cent to Rs 3,36,117 crore during the April-February period of the current financial year. Direct tax collections stood at Rs 2,78,411 crore in the same period last fiscal.

Corporate income tax collections grew by 24.01 per cent to Rs 223,612 crore during the review period from Rs 1,80,318 crore in the corresponding period a year ago. Furthermore, personal income tax grew by 14.76 per cent to Rs 1,12,114 crore, an official statement said.

Securities Transaction Tax (STT) revenue grew by 1.72 per cent to Rs 6,078 crore during the 11-month period ending February, 2011.

Net direct tax collections during the period amounted to Rs 3.36 lakh crore, which was 75.38 per cent of the revised estimates target of Rs 4,46,000 crore for the entire fiscal.

This indicates a shortfall of Rs 1.10 lakh crore is left to be covered in the final month of the financial year if the target is to be met.