Net direct tax collections during the first quarter of the current fiscal (2009-10) grew 3.65 per cent on account of higher tax refunds. For the April-June period, direct tax collection (corporate tax and personal income tax) of the government stood at Rs 59,465 crore, up from Rs 57,373 crore in the same period of the 2008-09 financial year, according to a finance ministry statement.

“Lower growth in net tax collection was mainly on account of higher tax refund outgo of 52.01 per cent at Rs 17,600 crore in the present quarter, against Rs 11,578 crore in the first quarter last fiscal,” said the release.

Also Read   Related Stories News Now - Everyone is digging wells in this village - KKN Group to invest Rs 100 crore for real estate foray, new launches - M&M banks on Bolero brand to increase Maxi Truck reach - Slowdown not to slow down models at fashion week - MCF targets Rs 150 cr sales from granulated fertiliser - Intex eyes Rs 250 cr from mobile business

Also Read   Related Stories News Now - Markets end flat - Turbulence ahead for airlines despite oil price drop - Weak rupee may bring cheer to NRIs, expats - LIC buys PSU stocks, sells pvt sector blue-chips in Q4 - Banks may lower deposit rates as inflation eases: Report More

The high refunds are due to the revenue department’s initiatives of faster processing of returns on the new national computer network. The system, which is available from the current fiscal, has the ability to process up to 200,000 returns every day. At present, there are close to 33 million taxpayers in the country.

While corporate tax collection grew by 3.31 per cent at Rs 35,709 crore during the April-June period against Rs 34,566 crore in the corresponding period of the previous year, personal income-tax collection was 4.38 per cent more at Rs 23,780 crore, against the first quarter of the previous financial year.

Personal income-tax comprises the fringe benefit tax (FBT) and the securities transaction tax (STT). FBT recorded a decline of 7.56 per cent at Rs 1,031 crore, as against Rs 1,115 crore in the same period last year. STT also fell by 9.9 per cent at Rs 1,462 crore, against Rs 1,623 crore in the corresponding period last fiscal. On a monthly basis, growth in net collections as well as tax deducted at source (TDS) was higher with total receipts for June 2009 at Rs 35,307 crore compared to the net collection of Rs 34,533 crore during the year-ago month. Growth in corporate TDS was 12 per cent, at Rs 19,584 crore against Rs 17,477 crore last year.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end flat - Turbulence ahead for airlines despite oil price drop - Weak rupee may bring cheer to NRIs, expats - LIC buys PSU stocks, sells pvt sector blue-chips in Q4 - Banks may lower deposit rates as inflation eases: Report

Tags : Net direct tax   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More