Net direct tax collections rate for seven months of this financial year registering a growth of 29.52 per cent. It stood at Rs166,905 crore up to October 2008 as compared to Rs128,864 crore for the same period of last year. The country remained successful to increase tax collection, despite global slowdown.
Corporate tax increased to 33.49 per cent and stood at Rs105,174 crore as against Rs78,785 crore. Income tax growth rate too increased registering a growth of 23.14 per cent. Fringe benefit tax (FBT) increased by 47 per cent and dividend distribution tax grew above 48 per cent which indicates sound financial health of the country despite global financial crisis.