The Hindu Business Line : Net direct tax collections up 40% till Jan

New Delhi, Feb. 5 The Centre’s direct tax revenues continued to be buoyant, with net direct tax collections recording 40.47 per cent increase for the ten-month period April 2007-January 2008 at Rs 2,18,538 crore (Rs 1,55,576 crore).

Corporate tax registered a growth of 37.54 per cent at Rs 1,33,851 crore, up from Rs 97,315 crore during the previous fiscal. Personal income-tax (including FBT, STT and BCTT) grew by 45.45 per cent at Rs 84,349 crore, up from Rs 57,990 crore.

Growth in Securities Transaction Tax (STT) was 85.71 per cent (Rs 6,793 crore against Rs 3,658 crore) and Fringe Benefit Tax (FBT) was 30.74 per cent (Rs 5,161 crore against Rs 3,948 crore). Banking Cash Transaction Tax (BCTT) grew by 14.51 per cent (Rs 460 crore against Rs 401 crore).

An official release said that the overall direct tax growth was highest in the Mumbai region at 64.26 per cent; followed by North Western region (Chandigarh) at 48.19 per cent, Pune at 44.37 per cent, Karnataka and Goa regions (Bangalore) at 43.76 per cent and Andhra Pradesh (Hyderabad) at 39.53 per cent.

Corporate tax growth was highest in the North-East (Guwahati) at 254.30 per cent; followed by Bihar and Jharkhand regions (Patna) at 75.45 per cent, Kerala region (Kochi) at 71.61 per cent, eastern Uttar Pradesh (Lucknow) at 71.46 per cent and Mumbai at 69.90 per cent.

Personal income-tax growth was highest in Madhya Pradesh and Chhattisgarh regions (Bhopal) at 393.07 per cent; followed by Mumbai at 54.48 per cent, part of western Uttar Pradesh (Meerut) at 52.91 per cent, Andhra Pradesh (Hyderabad) at 49.97 per cent, eastern Uttar Pradesh (Lucknow) at 48.84 per cent and Tamil Nadu (Chennai) at 48.41 per cent.