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India's net direct tax collections for first seven months of the present fiscal year grew 3.92% Rs.1,73,447 crore from Rs.1,66,905 crore in the same period last fiscal. During the April- October period of 2009, collections in corporate taxes grew 4.59% to Rs.1,09,996 crore from Rs.1,05,174 crore in the year-ago period, while personal income tax collections rose 2.87% to Rs.63,195 crore from Rs.61,433 crore.
Net collections during the month of October 2009 turned to be positive at Rs.20,822 crore compared to Rs.19,708 crore during October,2008. During October, the personal income tax collections grew 16.1% whereas the corporate tax collections declined 4.72%.
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