August 12, 2011 9:28 PM

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Refunds pull down tax collection by 8%

Hefty refunds pulled down net direct tax collections by 8.14 per cent to 78,679 crore rupees during the April-July period of this fiscal. Net direct tax collections stood at 85,647 crore rupees in the year-ago period. The latest data released shows that Tax refunds rose a robust 183.18 per cent during the April-July period of 2011-12, pulling down net direct tax collections.However, gross direct tax collections during the four-month period were up by 26.63 per cent at 1,32,542 crore rupees. It was 1,04,668 crore rupees a year-ago.

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