Industry & Economy
-
Taxation
Net direct tax collections zoom to Rs 1,661 crore
Our Bureau
New Delhi
,
June 9
AIDED by a 45.23 per cent jump in personal income tax collections, net direct tax collections during April-May 2004 touched Rs 1,661 crore as against collection level of Rs 63 crore recorded in the same period during the previous year.
Gross direct tax collections in the first two months of the current fiscal increased by 14.92 per cent to Rs 11,423 crore as against Rs 9.941 crore.
The refund payout during April-May 2004 was lower at Rs 9,762 crore as against refund of Rs 9,878 crore in the same period during previous year. Corporate tax collections during April-May were in the negative territory (deficit of Rs 3,812.48 crore) on account of the refunds.
Corporates are required to fork out their first instalment of advance tax by June 15. Corporate tax refunds during April-May 2004 stood at Rs 8,266 crore.
Personal income-tax collection during April-May 2004 touched Rs 5442.92 crore, reflecting a 45.23 per cent increase over Rs 3,747.75 crore recorded in April-May 2003.
The Central Government has budgeted direct tax collections of Rs 1,26,000 crore during 2004-05.
More Stories on :
Taxation
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
