Direct tax revenues rise 40% till January

The government recorded a 40 per cent increase in direct tax collection...

By: PTI
New Delhi | February 5, 2008 12:00 AM IST

1 min read

The government recorded a 40 per cent increase in direct tax collection till January this fiscal at Rs 2,18,538 crore as against Rs 1,55,576 crore a year ago. With this, the government has collected over 81 per cent of the budget target of Rs 2,67,490 crore. Corporate tax registered a growth of 37.54 per cent at Rs 1,33,851 crore in the first 10 months of this fiscal, up from Rs 97,315 crore during the previous fiscal. Personal income tax, including fringe benefit tax (FBT), securities transaction tax (STT) and banking cash transaction tax (BCTT), grew 45.45 per cent at Rs 84,349 crore from Rs 57,990 crore.

The FBT collection grew by 30.74 per cent at Rs 5,161 crore as against Rs 3,948 crore. Collections from BCTT, whose purpose is to track black money generation, went up by 14.51 per cent at Rs 460 crore as compared to Rs 401 crore.

Overall direct tax growth was highest in the Mumbai region at 64.26 per cent; followed by Chandigarh, Pune, Bangalore and Hyderabad.

Corporate tax growth was highest in the Guwahati region at 254.30 per cent while Personal income tax growth was highest in Bhopal circle at 393.07 per cent.

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