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 Industry & Economy - Taxation


Direct tax mop-up during April-Aug surges 46 per cent

Our Bureau

New Delhi , Sept. 6

THE Centre's net direct tax mop up surged by 45.84 per cent in the first five months of the current fiscal at Rs 21,187 crore as against a collection level of Rs 14,528 crore recorded in the same period during the previous year.

The net direct tax collections achieved during April-August accounted for 15.2 per cent of the budget target of Rs 1,39,510 crore for 2004-05.

While income tax collections in the first five months stood at Rs 15,141 crore (55 per cent growth), the corporate tax collection in the same period stood at Rs 5,989 crore (25.7 per cent growth)

Besides the strong performance of the corporate sector, the lower outgo on refunds is also an important factor that has contributed to the 45.84 per cent jump in net direct tax collections during April-August.

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