Direct tax collection up 22.8% at Rs 66,761crore

Raising hopes of exceeding Budget targets for 2003-04, direct tax collections surged by 22.8 per cent to Rs 66,761 crore till January 15. ‘‘Going by the current trend, particularly in corporate tax, the government is expected to exceed the Budget target by Rs 6,000 crore,’’ revenue secretary Vineeta Rai said here on Wednesday on the sidelines of the launch of Tax Information Network (TIN). The target for the entire fiscal is at Rs 95,569 crore. She said corporate tax collections grew by a whopping 33 per cent to Rs 38,869 crore till January 15, while income tax was up by 11.1 per cent at Rs 27,892 crore. Total direct tax mop up was at Rs 66,761 crore, which was 22.8 per cent higher than the collections a year ago, central board of direct taxes chairman P.L. Singh said. (ENS)