Industry & Economy
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Taxation
Centre hopeful of achieving revised tax target
Our Bureau
New Delhi
Apr 10
The Centre's direct taxes revenue for the financial year 2006-07 has touched Rs 2,23,797 crore, the latest data available with the Government showed.
Although this collection level is lower than the revised target of Rs 2,29,272 crore, the Finance Minister, Mr P. Chidambaram, said on Tuesday that he was confident about the department achieving the revised target by the time final data from different centres was compiled. The direct taxes in Budget estimate for 2006-07 were pegged at Rs 2,10,684 crore.
Of the total direct tax collections of Rs 2,23,797 crore, corporate tax collections stood at Rs 1,41,915.4 crore and personal income-tax collections stood at Rs 71,011.4 crore.
While the revised corporate tax collection target for 2006-07 has been pegged at Rs 1,46,497 crore, personal income-tax collection target for the same period stood at Rs 82,510 crore.
Official sources said that fringe benefit tax collections in 2006-07 stood at Rs 5,331.7 crore and securities transaction tax collections at Rs 4,729.5 crore. Banking cash transaction tax collections were Rs 505 crore (provisional).
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