The Hindu Business Line : Direct tax collection rise 42.79%

New Delhi, Jan 12 The Centre’s net direct-tax collections have registered 42.79 per cent increase in the first nine months of the current fiscal to Rs 2,06,029 crore compared with Rs 1,44,286 crore collected in the same period a year ago. This collection represents over 77 per cent of the budgeted direct-tax revenue target of Rs 2,67,490 crore for 2007-08.

An official release said on Saturday that corporate tax collections during April-December 2007 touched Rs 1,28,194 crore, up 38.64 per cent over the collection of Rs 92,463 crore.

Personal income tax (including FBT, STT and BCTT) grew by 50.36 per cent at Rs 77,535 crore (Rs 51,565 crore). While securities transaction tax collection grew by 82.81 per cent to Rs 5,897 crore (Rs 3,266 crore), fringe benefit tax collections recorded 69.04 per cent increase to Rs 4,958 crore (Rs 2,933 crore). Banking cash transaction tax collections grew by 14.9 per cent to Rs 411 crore (Rs 357 crore). Overall, direct-tax growth was highest in the Mumbai region at 67.38 per cent; followed by Pune region at 55.15 per cent, north-western region (Chandigarh) at 49.02 per cent, north-eastern region (Guwahati) at 47.84 per cent and eastern Uttar Pradesh (Lucknow) at 47.51 per cent. Corporate-tax growth was highest in north-eastern region (Guwahati) at 334.48 per cent; followed by eastern Uttar Pradesh (Lucknow) at 75.92 per cent, Mumbai at 73.7 per cent, Kerala (Kochi) at 71.55 per cent and Pune region at 48.9 per cent.

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