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Direct tax collection up 4% at Rs 18,077 cr till Sep 15
New Delhi, Sept 22: Direct tax collection, which was flat till August, has picked up to clock 4.0 per cent growth Rs 18,077 crore till September 15.
New Delhi, Sept 22: Direct tax collection, which was flat till August, has picked up to clock 4.0 per cent growth Rs 18,077 crore till September 15.
"The target set for direct taxes has been achieved so
far. Government mopped up Rs 18,077 crore, which is 18.9 per
cent of the budgeted Rs 95,569 crore till September 15,"
Finance Ministry officials told here today.
Usually, direct tax collections are low in the early part of the fiscal and they pick up towards the end.
Net collection of corporate and income tax, which was at Rs 14,530 crore till August, surged to Rs 18,077 crore till September 15, they said.
Collection in the first 15 days of this month was Rs 3,547 crore, compared to less than Rs 3,000 crore average mop up in the last five months.
Income tax collection was at Rs 11,574 crore till mid September, which is 26.3 per cent of the budgeted Rs 44,070 crore for entire 2003-04.
Corporate tax mop up was at Rs 6,503 crore, which amounts to 12.6 per cent of the budget estimate of Rs 51,499 crore for 2003-04.
The direct taxes include collection of tax deducted at source (TDS) of Rs 302 crore till July.
The overall direct tax collection was up by Rs 696 crore or 4.0 per cent so far compared to April-September 15, 2002-03.
While corporate taxes grew by 19 per cent (or Rs 1,039 crore) till September 15, income tax collections actually declined by Rs 343 crore or 2.9 per cent in the same period.
Bureau Report
Usually, direct tax collections are low in the early part of the fiscal and they pick up towards the end.
Net collection of corporate and income tax, which was at Rs 14,530 crore till August, surged to Rs 18,077 crore till September 15, they said.
Collection in the first 15 days of this month was Rs 3,547 crore, compared to less than Rs 3,000 crore average mop up in the last five months.
Income tax collection was at Rs 11,574 crore till mid September, which is 26.3 per cent of the budgeted Rs 44,070 crore for entire 2003-04.
Corporate tax mop up was at Rs 6,503 crore, which amounts to 12.6 per cent of the budget estimate of Rs 51,499 crore for 2003-04.
The direct taxes include collection of tax deducted at source (TDS) of Rs 302 crore till July.
The overall direct tax collection was up by Rs 696 crore or 4.0 per cent so far compared to April-September 15, 2002-03.
While corporate taxes grew by 19 per cent (or Rs 1,039 crore) till September 15, income tax collections actually declined by Rs 343 crore or 2.9 per cent in the same period.
Bureau Report