Net direct tax collections went up by 132 per cent to Rs 12,642 crore in the first month of the current fiscal, as against Rs 5,441 crore in the corresponding month of the previous fiscal. The Securities Transaction Tax (STT) collections, however, came down by 18 per cent in April to Rs 351 crore, compared with Rs 431 crore in the corresponding month of 2007-08.
Additionally, mop up from the Fringe Benefit Tax (FBT) and Banking Cash Transaction Tax (BCTT) have come down in April over the corresponding month a year ago, sources said. However, Personal Income Tax (including STT, FBT and BCTT) was up 124 per cent at Rs 8,596 crore in April, compared with Rs 3,834 crore in the same month a year ago. Corporation income tax collections also witnessed a 142 per cent rise at Rs 3,881, compared with Rs 1,602 crore during the month a year ago. Other collections were at Rs 165 crore in the month, compared with Rs 5 crore a year ago. Direct tax collections rose by 35 per cent to around Rs 3,12,000 crore in 2007-08, or Rs 7,240 crore more than the revised estimate of Rs 3,04,760 crore for the year. Direct tax collections had grown by over 39 per cent to Rs 2,30,184 crore in 2006-07.
Additionally, mop up from the Fringe Benefit Tax (FBT) and Banking Cash Transaction Tax (BCTT) have come down in April over the corresponding month a year ago, sources said. However, Personal Income Tax (including STT, FBT and BCTT) was up 124 per cent at Rs 8,596 crore in April, compared with Rs 3,834 crore in the same month a year ago. Corporation income tax collections also witnessed a 142 per cent rise at Rs 3,881, compared with Rs 1,602 crore during the month a year ago. Other collections were at Rs 165 crore in the month, compared with Rs 5 crore a year ago. Direct tax collections rose by 35 per cent to around Rs 3,12,000 crore in 2007-08, or Rs 7,240 crore more than the revised estimate of Rs 3,04,760 crore for the year. Direct tax collections had grown by over 39 per cent to Rs 2,30,184 crore in 2006-07.
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