Circular No. No.402/92/2006-MC (21 of 2011)

Gross direct tax collections during the first five months

What this is

Circular No. No.402/92/2006-MC (21 of 2011) was issued by the Central Board of Direct Taxes on 8 September 2011. Its subject is Gross direct tax collections during the first five months.

What it does

Reports direct tax collection figures for April to August 2011. Gross collections rose 25.89 per cent to Rs. 1,54,360 crore from Rs. 1,22,618 crore, with corporate tax up 29.72 per cent to Rs. 96,597 crore and personal income-tax up 19.91 per cent to Rs. 57,582 crore. Net collections fell to Rs. 96,738 crore from Rs. 1,00,113 crore because refunds rose 156.04 per cent to Rs. 57,622 crore from Rs. 22,505 crore. Wealth-tax grew 22.14 per cent to Rs. 160 crore and securities transaction tax fell 9.09 per cent to Rs. 2,021 crore.

Why it was issued

It is a routine periodic statement of collection figures and gives no other reason.

Who it reaches

Readers following departmental collection and refund performance
Taxpayers awaiting refunds in that period

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Gross direct tax collections during the first five months

No.402/92/2006-MC (21 of 2011)

Government of India / Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, dated the 8th September, 2011

PRESS RELEASE

Gross direct tax collections during the first five months of the current fiscal (April - August 2011) were up by 25.89 percent at Rs.154,360 crore as against Rs.122,618 crore in the same period last fiscal. While gross collection of corporate taxes was up 29.72 percent (Rs.96,597 crore against Rs.74,463 crore last year), gross collection of personal income tax was up by 19.91 percent (Rs.57,582 crore against Rs.48,023 crore last year).

Net collections, however, stood at Rs.96,738 crore, down from Rs.100,113 crore in the same period last fiscal on account of an increase of 156.04 percent in tax refunds, which stood at Rs.57,622 crore as against Rs.22,505 crore last fiscal.

Growth in wealth tax was 22.14 percent (Rs.160 crore against Rs.131 crore), while growth in securities transaction tax was -9.09 percent (Rs.2,021 crore against Rs.2,223 crore).

What to watch

This is a press release of statistics, not a circular, and it is not Board authority on any question of tax.
It lays down nothing and confers no right.
The figures cover five months of one year and have no continuing significance.
As in the corresponding release for the earlier months, the fall in net collection is explained entirely by the pace of refund issue.

Where you meet it

Not in any proceeding; it is of use only as a data point on collections and refunds in 2011.

← Circular No. No.402/92/2006-MC (22 of 2011) · Press Release →

A circular binds the department, not you and not a court. The Board issues a circular to its own officers. An assessee may hold the department to a circular that helps him; the department cannot hold an assessee to one that hurts him, and the Tribunal and the courts decide the law for themselves.

Source: the Income Tax Department’s own published text — its page for this instrument.