Direct tax collection rises 14 percent to Rs.1,00,112 crore
September 6th, 2010 - 8:36 pm ICT by IANSNew Delhi, Sep 6 (IANS) The government has collected 13.91 percent more taxes from individuals and companies during the first five months of this fiscal.
Net direct tax collections rose to Rs.1,00,112 crore during April-August period from Rs.87,888 crore recorded during the same period last year, an official statement said Monday.
Companies paid 17.05 percent more taxes during the first five months of fiscal 2010-11. Corporate income tax rose to Rs.57,750 crore as against Rs.49,339 crore during the same period last year.
Personal income tax, including securities transaction tax, and residual fringe benefit tax and banking cash transaction tax, grew 9.68 percent to Rs.42,217 crore as against Rs.38,491 crore in the corresponding period a year ago.
Interestingly, Patna region that includes Bihar and Jharkhand, witnessed the sharpest jump in the collection of personal income tax. Personal income tax collection almost doubled in Patna region, one of the most backward regions of the country.
In term of the growth in personal income tax collection, Patna region is followed by Lucknow region (UP-East) at 69.56 percent, Guwahati region (North-East) at 47.78 percent and North Western Region (Chandigarh) at 41.73 percent.
Growth of corporate income tax was highest in Bhopal region (MP-Chhattisgarh) at 185.25 percent, followed by Delhi region at 62.62 percent, and Nagpur and Pune regions (parts of Maharashtra) at 60.71 percent and 51.85 percent, respectively.
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gk/srj
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Tags: cash transaction, chandigarh, chhattisgarh, corporate income tax, five months, fringe benefit tax, maharashtra, mp, nagpur, New Delhi, personal income tax, pune, rs 1, rs 42, tax collections, transaction tax