Financial Daily from THE HINDU group of publications
Tuesday, Oct 05, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 05, 2004 |
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Economy Industry & Economy - Taxation Direct tax collections for April-Sept up 33.16 per cent Our Bureau
New Delhi , Oct. 4 AIDED by healthy mop-up on the income-tax front, direct tax collections of the Central Government increased by 33.16 per cent during April 1-September 28 to touch Rs 44,143 crore as against Rs 33,150 crore in the same period last year. The collection performance, so far, represents 31.7 per cent of the Budget estimate of Rs 1,39,365 crore in direct tax collections for the fiscal year 2004-05. While income-tax collections for the period under review stood at Rs 24,320 crore (Rs 14,404 crore), corporation tax collections in the same period stood at Rs 19,823 crore (Rs 18,746 crore). The Centre had pegged the corporation tax target for 2004-05 at Rs 88,436 crore. The income-tax budget estimate for 2004-05 stood at Rs 50,929 crore. If one were to go by the current collection performance on the corporation tax front, the Centre has realised only 22.42 per cent of its Budget estimate. However, on the income-tax front, the Centre has realised 47.75 per cent of its target for 2004-05. The Centre had, for the period April 1-September 17, 2004, mopped up Rs 38,364 crore from direct taxes, which represented a 47.66 per cent growth to the collection level of Rs 25,982 crore recorded in the same period last year.
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