Direct Tax Collection Grows 42-Pc To Rs1.64 Lakh Cr

New Delhi: Direct tax mop up went up by 42.5% to Rs 1,64,407 crore from April 1 to December 15, compared to Rs 1,15,377 crore during the same period last fiscal. The government has achieved over 61% of budgeted direct tax target of Rs 2,67,490 crore. Corporation tax witnessed a growth of 42.37% at Rs 98,391 crore during the period, up from Rs 69,110 crore in the same period in the previous fiscal, while personal income tax (including FBT, STT and BCTT) grew by 42.83% at Rs 5,774 crore, up from Rs 46,051 crore. Growth in Securities Transaction Tax (STT) was 74.36% (Rs 5,895 crore against Rs 3,381 crore) and Fringe Benefit Tax (FBT) was 16.10% (Rs 3,313 crore against Rs 2,854 crore). Banking Cash Transaction Tax (BCTT) grew by 17.04% (Rs 376 crore against Rs 322 crore). Overall direct tax growth was highest in the Mumbai region at 68.43%; followed by Pune region at 58.68%, Chandigarh at 47.98%, Hyderabad at 43.82% and Lucknow at 39.79%.

Corporate tax growth was highest in Guwahati at 244.18%; followed by Kochi at 83.32%, Mumbai at 80.92%, Lucknow at 71.22% and Pune region at 56.24%. Personal income tax growth was highest in Bhopal at 160.95%; followed by Nagpur region at 97.10%, Pune region at 60.39%, Hyderabad at 54.79% and Chennai at 50.90%. The above figures are provisional and do not completely reflect the advance tax paid by December 15, 2007.