Gross Direct Tax Collections up by 37.34 per cent while Net Direct Tax Collections decline by 47.93 per cent during first two months of Current Financial Year. An official release says, direct tax collections stood at 50,405 crore rupees as against 36,702 crore rupees in the same period during the last fiscal. Net direct tax collections were, however, down by 47.93 per cent at 12,954 crore rupees as against 24,878 crore rupees in the same period during the last fiscal. The decline in net direct tax collection was on account of an increase of 216.74 percent in tax refunds, which stood at 37,451 crore rupees as against 11,824 crore rupees last year. The budget estimates for direct tax collections are fixed at 5,32,651 crore rupees for the current fiscal.