DIRECT NET COLLECTION DECLINES 8 % FOR FOUR MONTHS

Direct net collection for the four months of the financial year 2011-12 april to july has been declined 8.1% from the previous financial year 2010-11 four months collection. The figures are net to net four months 78679 crore against the previos four month figure 85647 crore.


The main reason in decline the net collection of direct tax is rising the tax refund which rose about 183% 53863 crore to 19021 crore in the previous 4 moths stats.

However corporate taxes has risen about 29 percent to 85222 crore compare to 65776 crore in the previous 4 moths of the financial year 2010-11.

Net growth in wealth tax has also increased by 39% to 104 crore compare to 75 crore in the previous 4 moths figure.