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K.R. Srivats

New Delhi , Nov. 20

The Centre's net direct tax collections are nearing the Rs 1 lakh crore mark as the revenue mop up in the April-November 17 period touched Rs 99,254 crore. This represented a 39.1 per cent increase to the net collections of Rs 71,339 crore recorded in the same period last year.

Official sources said that gross corporate tax collections for the period under review increased by 36.5 per cent to Rs 75,494 crore as compared with Rs 55,327 crore in the same period last year.

Personal income tax collections (gross) during April 1-November 17 stood at Rs 39,876 crore (Rs 31,614 crore). While fringe benefit tax collections touched Rs 2,441 crore (Rs 1,756 crore), the securities transaction tax collections stood at Rs 2,908 crore (Rs 1,521 crore).

Banking cash transaction tax collections during April-November 17 stood at Rs 301 crore (Rs 146 crore). The Budget Estimate for direct taxes for 2006-07 has been pegged at Rs 2,10,684 crore.

More from BSE-500 cos

Our Chennai Bureau adds: The tax provision made by the constituents of BSE-500 Index has increased by 50 per cent in the quarter ended September 30, 2006 compared to the corresponding period of the previous year. Over the same period, the profit before tax and post tax earnings registered a 48 per and 47 per cent growth, respectively.

According to figures available for 470 companies, the tax provision (including fringe benefit tax and deferred tax) and profit before tax aggregated Rs 15,200 crore and Rs 63,700 crore, respectively. The BSE 500 represents over 90 per cent of the total market capitalisation on the BSE.

More Stories on : Income Tax

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