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Our Bureau

New Delhi , April 26

The Centre may miss the revised estimate target for direct tax collections for 2005-06 by about Rs 4,000-Rs 5,000 crore, primarily on account of lower than anticipated advance tax collections from companies in sectors such as banking and insurance, oil and telecom.

In the 2006-07 Budget, the Finance Minister, Mr P. Chidambaram, had pegged the revised estimate for income-tax for fiscal 2005-06 at Rs 66,239 crore (Budget estimates of Rs 66,239 crore) and corporation tax at Rs 1,03,573 crore (Budget estimate of Rs 1,10,573 crore)

The direct tax collection data available with the Revenue Department showed that personal income-tax collections during fiscal 2005-06 stood at about Rs 64,550 crore. Corporation tax collections for 2005-06 stood at about Rs 99,300 crore.

While fringe benefit tax collections touched about Rs 4750 crore, the banking cash transaction tax and securities transaction tax collections stood at Rs 310 crore and Rs 250 crore respectively.

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