Gross direct tax mop-up up 3.6% in Apr-May

The gross direct tax collection grew marginally by 3.62 per cent to Rs 52,232 crore in the first two months of the current fiscal.

The gross realisation from direct tax in April and May 2011 was Rs 50,407 crore. Net direct tax collections,however,were significantally up at Rs 35,323 crore during April-May of 2012-13 from Rs 12,956 crore in the year-ago period,according to a finance ministry statement.

“This upward surge in net collections was due to declined in refunds by (-) 54.85 per cent as compared to year ago period,” the statement said. The refunds was about Rs 16,900 crore in the two months,significantly lower than the refunds issued in corresponding period last year,which was Rs 95,000 crore.