Direct tax collections up 20.75% in April-Feb

Net direct tax collections grew by 20.75% 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% 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% to Rs 1,12,114 crore, an official statement said.

Securities Transaction Tax (STT) revenue grew by 1.72% 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% 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.