New Delhi: The net direct tax collection grew 23 percent to over Rs 8.11 lakh crore till August 10 in the current fiscal, on slower refunds and higher mop-up from non-corporate taxes.

The net corporate tax collection rose about 20 percent to about Rs 2.70 lakh crore, while non-corporate tax (which includes personal income tax) mop-up rose 23 percent to Rs 5.07 lakh crore. Revenues from Securities Transaction Tax (STT) jumped 51 percent to Rs 33,824 crore between April 1 and August 10.

Follow The PSUWatch Channel on WhatsApp

Refund issuances, however, slowed during the year with a meagre 3.8 percent year-on-year growth to Rs 1.43 lakh crore.

Gross direct tax collection (which includes corporate, personal income tax and STT) recorded 19.75 percent growth till August 10 to about Rs 9.55 lakh crore.

On a gross basis, corporate tax collection stood at over Rs 3.80 lakh crore, non-corporate tax revenues were Rs 5.40 lakh crore, and STT was Rs 33,824 crore.

Follow PSU Watch on LinkedIN

Deloitte India Partner, Rohinton Sidhwa, said the tax collection shows strong growth in gross non-corporate taxes and STT collections, and a slowdown in refunds, which is leading to 23 percent growth in net collections.

"It is expected, however, that the pace of refunds will increase over the next few months. However, gross corporate tax collections, on the other hand, are growing at a more modest 14 percent," Sidhwa said.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)