Net direct tax collections up 19.47% in April-Dec

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Our Bureau

New Delhi, Jan. 7

The Centre's net direct tax collections grew 19.81 per cent in December 2010 to touch Rs 79,310 crore (Rs 66,193 crore), higher than the 18.33 per cent growth rate recorded in November. But the growth rate for December was lower than the near 24 per cent growth recorded in December 2009.

While corporate tax collections grew 21.56 per cent in December to Rs 64,783 crore (Rs 53,293 crore), personal income tax collections (including STT and residual FBT/BCTT) registered 12.61 per cent increase to Rs 14,527 crore (Rs 12,900 crore).

For the April-December 2010 period, the Centre's net direct tax collections registered 19.47 per cent increase to Rs 2,98,958 crore (Rs 2,50,232 crore). With this collection level, the Centre has achieved 69.53 per cent of the budgeted target of Rs 4.3 lakh crore for 2010-11.

Meanwhile, the Finance Minister, Mr Pranab Mukherjee, is understood to have recently urged the top officials of the Central Board of Direct Taxes (CBDT) to look at mopping up atleast Rs 4.5 lakh crore as direct tax receipts for the current fiscal.

Even as the CBDT maintained that this was not a directive for target revision, official sources pointed out that the actual collections will surpass Rs 4.5 lakh crore going by the current growth rate in direct tax revenue receipts.

(This article was published in the Business Line print edition dated January 8, 2011)
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