Hit by the economic slowdown,corporate tax collection grew just over 7 per cent in the first half of the current fiscal,impacting the overall growth of direct tax collection during the period. During the April-September period,gross collection of corporate tax grew 7.93 per cent at Rs 1,92,308 year-on-year. Net tax collection grew by 10.72 per cent during the first half of the current fiscal to stand at Rs 2,50,959 crore.
Gross tax collection,without deducting refunds,was up by 10.66 per cent and stood at Rs 3,01,250 crore as against Rs 2,72,221 crore during the same period a year ago. Tax from personal income grew 16.15 per cent during the month.